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.

Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.

46 terms filed under P, showing 41–46 (page 5 of 5).

P

Proposal and quotation

The document that asks for the business. A contract in waiting.

PSC

Also called Person with significant control, Beneficial owner

Anyone who ultimately owns or controls a company, recorded on a public register.

Public liability insurance

Cover for injury or damage caused to third parties.

Public relations

Earned coverage rather than paid. Slower, cheaper and more credible.

Purchase ledger

The record of what you owe suppliers, and the controls around paying it.

Purchase order

A customer's formal instruction to supply. Often the thing that makes an invoice payable.

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