Top 10 Business English Words and Phrases Every Professional Should Know

Do you want to improve your business vocabulary?

Many students who study English reach a high level (B2/C1) and now want to acquire business vocabulary. Here is a list of the most useful words and phrases to help you. I have put this vocabulary in alphabetical order, given an easy-to-remember definition, written some example sentences, and provided some synonyms.

1. Administration

When a company enters administration, it means that the management of the business will be taken over by a qualified professional, usually a licensed insolvency administrator. This person is typically appointed by the bank to which the company owes a significant amount of money. Administration prevents other creditors from taking legal action against the company to recover their debts. Therefore, it can be seen as a process to buy time to save a company that is performing poorly financially.

Example: The British retail chain Debenhams He entered “administration” in April 2020. The goal was to protect the company from legal action by its suppliers who were not being paid on time. Without thisadministration”, the company could have gone into liquidation.

The word “administration” has another, more general meaning. It refers to the day-to-day running of a business, such as phone calls, emails, record keeping, and so on.

2. Accountability

Accountability is the obligation (or necessity) to explain, justify, and take responsibility for your actions. You’ll often find the term “accountability” in business articles when things have gone wrong in an organization. Grammatically, this is when someone is responsible of their actions.

Example:

The board of directors is definitely to blame for the company’s collapse. They did not accept their accountability. responsibility because of their poor business decisions. Surely, now they will have to accountability And will they be asked to leave the company?

3. To break a lease / a break clause

When a company rents a property, it generally needs to sign a rental agreement, also known as a lease. The lease will be for a specific period of time (for example, one year). term five years) and for an agreed monthly rent. The person or company that rents a property is known as the tenant.

If you wish to leave the property before the term has expired (ended), then it is called “break a lease / a contract” (break the lease agreement). You will have to negotiate with the owner (the building owner).

Sometimes, the lease agreement will already have a break clause, which will allow him to leave (give notice to the owner) at a given time.

Example:

We simply can’t afford the rent for this office! Let’s see the lease to see if there is a clause ruptureAnd if there is one, we can notify the owner. Then we can find a cheaper place.

4. A black hole

A black hole is a term you read about when something goes wrong with a company’s accounting. The company believes it has a large amount of money in the bank, but after an investigation, it turns out to be much less, or even zero! A black hole is always bad news!

Example:

It’s a disaster! We thought we had plenty of money available, but our accountant was sick for months, and when he came back, he found a massive black hole. We’re in deep trouble!

The famous British coffee chain Patisserie Valerie collapsed a couple of years ago. The company had accounting problems, and at first, they thought there was a £20 million shortfall. But after an investigation by specialists and the police, the shortfall turned out to be £94 million. Unbelievable!

5. The bottom line

The conclusion is an informal term for “profits”. It’s very simple.

Example: We’ve had a great year. The income statement has a bottom line (a final result) of approximately $400,000.

Bottom line It’s a term that has another meaning: “conclusion.” It signifies the fundamental and most important point. An example could be: We can talk about redecorating my office, but the bottom line is, I need a raise!

6. To back / a backer / backing

When someone starts a business, but the money to start it comes from someone else, that person is called a sponsor (an investor). So, “backing” means investing the necessary money in someone else’s business. The “backing” is the money (the investment).

Example: For this new business to take off, we need to find some sponsors. Without the appropriate level of backWe won’t have enough money to start the company. I’m going to ask John and Jim to back us (invest in us).

7. Contractor

A contractor is a person or company that works on a contract to provide materials or labor to perform a service or do a job.

Example:

Meals for children at this school are provided by (subcontracted toSchoolcook Ltd, a contractor private. The school does not employ staff, and all staff work for Schoolcook. The school wants subcontract more services to private contractors.

8. Cash burn, cash burn rate

When a company is losing money, it must be careful not to run out of cash. The cash burn rate is the monthly rate at which cash balances are decreasing. A synonym would be “monthly negative cash flow.”

Example:

The cash burn rateThe company’s current cost is $65,000 per month. At this rate, we’ll run out of cash in 6 months.

9. A concession

In business, a concession is where a business operates physically within another business. For example, airports, train stations, and department stores often have cafes, restaurants, and clothing stores. These are concessions, and they pay rent to use the space they need.

Example: There is Bristol Airport many concessions, including: WH Smith, JD Sports, Superdrug, Starbucks and Burger King.

A concession has other non-commercial meanings.A concession It’s something that happens, especially in response to demands. “The government will not do more concessions in relation to the demands made by the National Teachers Union.”A concession It is a preferential rate or subsidy granted by a government or organization. “As a special concession, the companyA concession It is a preferential rate or subsidy granted by a government or organization. “As a special concession, the company will allow all staff to purchase company products at half price (50% discount).”

10. Compliance

In the business world, compliance is an umbrella term that means the actions required to ensure that a company and all of its employees follow all laws, regulations, standards, and ethical guidelines that the government (and any other organization with power) implements.

If a company fails to comply properly, it may face government fines or legal action. The company may also suffer reputational damage.

Example:

Most clothing chains have to follow strict compliance standards about working conditions in factories in places like Bangladesh, where the clothes are manufactured.