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.

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.

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8 terms filed under N.

N

National Insurance

Also called NI, NICs, National Insurance contributions

A second tax on earnings, paid by employees, employers and the self-employed under different classes and rules.

National Minimum Wage

The legal floor on pay, by age. Rates change every April and underpayment is enforced.

NDA

Also called Non-disclosure agreement, Confidentiality agreement

A contract not to share information. Useful, routine, and frequently asked for at the wrong moment.

Nominal ledger

The main ledger holding every account. Where the trial balance comes from.

Non-compete on a business sale

The seller's promise not to set up in competition. Different rules from employment.

Non-executive director

Also called NED, Advisory board, Board

A director who is not involved in day-to-day management, brought in for perspective and challenge.

Normalised earnings

Adjusting the accounts to show what the business really earns.

NPS

Also called Net Promoter Score

A one-question customer satisfaction measure. Widely used, widely over-interpreted.

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