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... »

Applying for  Trademarks? Look out for Scam Letters

Applying for Trademarks? Look out for Scam Letters

Small businesses applying for trademark protection have been warned by the Intellectual Property Office (IPO) to watch out for scams, following complaints about a bogus letter that demands payment in return for registering their business details. Applicants and owners of UK trademarks and patents are being targeted by the so-called European Institute for Economy and Commerce (EIEC), which is sending out “official” invoices requesting payment of £188.50 in return for entering company details on its “protected trademarks register”. However, the IPO said that no UK business was required to submit this type of information as part of their trademark or patent application, and urged firms to ignore the requests, saying that the EIEC does not exist.   &ldqu... »