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.
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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46 terms filed under P, showing 31–40 (page 4 of 5).
P
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.
Professional indemnity insurance
Also called PI insurance, PII, Errors and omissions
Cover for claims that your advice or work caused someone a financial loss.
Profit
Also called Gross profit, Net profit, Bottom line
What is left after costs — and there are at least three different answers depending on which costs you mean.
Profit and loss account
Also called P&L, Income statement
The report that shows what you earned and what you spent over a period, ending in the profit figure.
Project management
Delivering something with a start, an end and a defined outcome.
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