Word
Meaning

Board of Directors

A group of individuals elected or appointed who jointly oversea the activities of a company.

Broker

Someone who arranges transactions between a buyer and a seller, in return for commission.

Business Plan

A document that describes your business. Covering objectives, strategies, sales, marketing and financial forecast. For a Guide on Business Planning see Business Resources.

Business Rates

A tax, set by the government on business property.

Balance sheet

a statement of the assets, liabilities, and capital of a business or other organisation at a particular point in time, detailing the balance of income and expenditure over the preceding period.

Business model

a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.

Business Partner

A commercial entity with which another commercial entity has some form of alliance. This relationship may be a contractual, exclusive bond in which both entities commit not to ally with third parties.

Business Proposal

A proposal is a written offer from a seller to a prospective buyer. Business proposals are often a key step in a sales process. See also Proposal.

BACS

Bankers' Automated Clearing Service.