Anyone who has an interest in the activities of a business, such as its workers, its suppliers, its directors, the local community and the government
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Shareholders
Investors who are part-owners of a company
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Private limited company
An incorporated business that is owned by shareholders who invest in the business in return for a share of the profits and voting rights at the annual general meeting (AGM)
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Public limited company
An incorporated business that can sell shares to the public (also known as a PLC)
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Stock exchange
A place where shares in PLCs can be bought or sold
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Profit
The amount of revenue left over once costs have been deducted
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Payment terms
The period of time that a business has to pau its suppliers
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Ethics
Moral principles or standards that guide the behaviour of a person or business
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Conflict
A serious disagreement, usually between people, countries or ideas
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Real-time
Live or as it happens
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Cookies
Small files stored on a customer’s computer when the customer visits a website, which record details about that visit and can be accessed by the website when the customer visits it again
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Legislation
The laws that a business must comply with
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Reasonable care
In consumer law, this means offering a service that is suitable for customers, such as providing a meal that can be eaten
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Induction
The period of time after an employee starts a job when they must be shown how to safely and within the employer’s expectations
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Comply
Obey a command or meet a set of standards
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Minimum wage
The lowest legal rate of pay for employees, depending on their age and their type of employment
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Discrimination
When someone is treated differently to someone else because of a particular characteristic, such as a disability, their ethnicity or their sex
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Protected characteristic
Characteristics that cannot be used in the recruitment process to reject a candidate, such as age, disability, sex or gender, marriage status, pregnancy, race religion or believe, or sexual orientation
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Levy
A tax on a particular product or service
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Globalisation
When businesses operate and in international scale and gain international influence or power
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Bank of England
The central bank of the United Kingdom. It manages the country’s debts, sets interest rates and influences the exchange rate between the pound and other currencies
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Tax
A proportion of an individual’s income or a business’s profits that must be paid to the government
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Imports
The flow of goods and services into a country from another country
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Exports
The flow of goods and services out of a country to another country
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Gross profit
The amount of profit that a business makes before the business’s costs are deducted
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