Press and media enquiries
What to do when a journalist calls. Prepare before it happens.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house. Five hundred of them, in plain English.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.
500 terms, showing 341–350 (page 35 of 50).
P
Pricing strategy
How you set the number. The fastest lever on profit and the least examined.
Privacy notice
Telling people what you do with their data. Required, and usually copied from somewhere.
Pro forma invoice
A request for payment in advance. Not a VAT invoice.
Probation
Also called Probationary period, Trial period
An initial period for both sides to decide whether the job works. It confers less protection than employers assume.
Probationary periods at work
An initial period to assess a new employee. Less protective than employers assume.
Procurement
Buying things properly. A process, not a purchase.
Product liability
Liability for harm caused by a product you sold, made or imported.
Product-market fit
Also called PMF
The point at which the market pulls the product out of you rather than you pushing it. Recognisable more than it is measurable.
Professional fees and how they are charged
What accountants, solicitors and consultants charge, and how to control it.
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