Business jargon

The Business Terms Entrepreneurs Don’t Understand

The Business Terms Entrepreneurs Don’t Understand

UK small enterprise owners are refusing to apply for business loans, because they’re too intimidated by financial jargon. A report by LDF has revealed that 48% of business owners opted against asking their bank for financial assistance, because they wouldn’t have understood certain terminology. Just 15% believe they’re familiar enough with banking terms to feel confident in negotiations, with this language barrier touted as a reason why there is a late payment epidemic worth £26bn among British businesses. Interestingly, older entrepreneurs seem more bullish than their younger counterparts – with 79% of over 55 year olds refusing to hold back on applying for loans due to this problem. The most misunderstood terms are: 1. CAPEX (33%) 2. ROCE (31.4%) 3. Ebitda (30.4%) 4. COGS (30%) 5. Arbitr... »

Speaking Jargon

SMEs warned: Avoid Business Jargon

Business jargon is being widely used in the workplace despite the risk that it can cause confusion and misunderstanding, HR experts have warned. Research from by serviced office provider MWB Business Exchange revealed that 25% of employees in small firms use business buzz words on a frequent basis, compared with 98% of staff in big companies. The survey also highlighted that almost three–quarters of employees felt that using business jargon hindered productivity at work. John Spencer, CEO of MWB Business Exchange said: “A lot of the time it comes down to laziness, as buzz words are used to save time instead of thinking about the most appropriate phrase. Stronger efforts are needed to stamp out business jargon, to avoid misunderstandings in the workplace.” “Business ... »