UK Business Jargon - Letter B
Index : A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Y|Z
B2B
Business to business - a term that describes businesses that sell direct to other businesses.
Bankers automated clearing system (BACS)
This is the system for sending money electronically between banks. BACS payments happen when money is sent from one bank account to another electronically.
Balance sheet
A financial statement at a given point in time. It provides a snapshot summary of what a business owns or is owed (assets) and what it owes (liabilities).
Bandwidth
The volume of data that an internet connection can carry every second. The internet's network is often referred to as pipes, so the bigger the pipe the more information that can be squeezed through simultaneously. Bandwidth is measured in bits per second (bps).
Bank of England
The Bank of England is the central bank of the UK and is not a commercial bank. It prints all English bank notes, manages the governments stock register, publishes money and banking data, and provides settlement facilities for the payment systems.
Bankrupt
A person or company that is judged legally insolvent. A person can become bankrupt upon voluntary petition or one invoked his/her creditors.
Barter
Barter is a direct swap of products or services where no money changes hands.
Base rate
The interest rate set by the Bank of England which is used as the basis for the rates banks offer and charge customers.
Bluetooth
A method of connecting mobile electronic devices that uses radio waves without the need of cables.
Breach of contract
Failure by a party to a contract to uphold their part of the deal. A breach of contract will make the contract void or voidable.
British Standards
A British Standard is a document that sets out a technical specification or other precise criteria for materials, products, systems and services. British Standards can indicate that materials and products meet a certain safety or environmental standard.
Broadband
Telecommunications technology that increases the amount of information that can be sent simultaneously on an internet connection. Broadband allows much faster connection and download speeds, and an 'always on' internet link.
Browser
Software that enables users to search and view information on the Internet. The most common is Internet Explorer.
Budget
This is an estimate of income and outgoings, usually completed for a period of at least one month but can be for the whole year.
Building Society
Financial institutions offering savings accounts and mortgages as their main business. Many are mutual institutions, which are owned by their members rather than shareholders.
Business Angels
Individuals who invest their money in growing businesses with the expectation of a high return on that investment.
Business Plan
A report that explains how a new business will market its product, what it will cost to produce, how much money it will expect to make and how much it needs to start the business.
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