SLA
Also called Service level agreement, Service credits
A written promise about how well a service will be delivered, usually with consequences attached.
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 421–430 (page 43 of 50).
S
Social enterprise and CIC
A business trading for a social purpose. Several legal forms, and the choice matters.
Social media marketing
Using social platforms to reach customers. Rented ground, and it changes without notice.
Software licensing
What you are actually allowed to do with software you paid for.
Sole trader
Also called Self-employed, Sole proprietor
The simplest way to be in business: you and the business are the same legal person, with everything that implies.
Sole trader to company
Incorporating an existing business. A transfer, with tax consequences.
SOP
Also called Standard operating procedure, Process documentation, Runbook
Written instructions for how a recurring task is done. Dull, and the foundation of ever being able to delegate anything.
Staff turnover
How many people leave, and what it costs.
Stamp duty and SDLT
Tax on buying property, and a separate one on buying shares.
Standard costing
Using expected costs to plan and to spot when reality differs.
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