The money needed to start a business is called capital. If a person does not have enough capital. he may borrow some form the bank in the form of a loan or an overdraft,
开办企业所需的资金称为资本。 如果一个人没有足够的资本。 他可以以贷款或银行透支的形式向银行借款。
Before the bank will give a loan he must put up some security ( such as his house ) in case he cannot pay back the money.
Security is also called collateral. If a business owned by one man ( a sole proprietor) runs into trouble. the owner is liable to pay all the debts to his creditors.even if he has to sell his private possessions.
担保也被称为抵押。 如果一个人（个体经营者）拥有的企业遇到麻烦。 则业主有法律责任向其债权人支付所有债项。 即使他必须出售他的私人财产。
A sole proprietor is personally liable to his creditors.
Sometimes two or more people own and run a business. This is called a partnership. People who invest money in a business are called investors or backers.
有时两个或更多的人拥有和经营一家企业。 这被称为合作伙伴关系。 将资金投资于企业的人称为投资者或支持者。
The backers in a partnership are all partners and owners. Usually all the parterns have personal unlimited liability for debts to creditors.
A partner who invests money in a partnership but who dones not run the business is called a sleeping partner.
Sometimes a sleeping partner can have limited liability (His liability is limited to the amount of money he invests)
All the investors in a limited company have limited liability. Investment in a limited company is in the form of shares, everyone who buys shares in the company is a shareholder,
The liability of each shareholder is limited to the amount of his investment. If a person has shares in a company. he is said to have a stake or holding in the company.
每个股东的责任仅限于他的投资金额。 如果某人在某公司有股份。 他就在公司有股份或持有股份。
If he holds 20% of shares，he has a 20% stake. If a sharholder has more than a 50% holding, he is a majority shareholder and he has a majority or controlling interest in the company
Capital which is borrowed is called loan capital. Capital obtained from investors is called share capital or equity capital.
The ratio between the loan capital and the equity capital determines whether a company has a high gearing or a low gearing.
A company which is highly geared has a high proportion of loan capital. A company which is low geared has proportionately more equity capital.