Brief British-American Dictionary Series, Part 1: Business Vocabulary

As a global language, English has developed many varieties and is now used in almost all parts of the world.  Despite the fact there are many Englishes out there, the standard British and American varieties remain the most popular ones among ESL learners.

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American and British English differ in terms of grammar, vocabulary and pronunciation.  Depending on your preferences, you may choose to study one or the other.  The important thing, however, is never to mix them.  Nevertheless, choosing to speak only one of these varieties doesn’t mean you shouldn’t learn about the other.

One must realize that between native speakers of British and American English, misunderstandings are often possible, especially when it comes to business vocabulary.

If you have (or intend to reach) different business partners worldwide, you would do well to learn important business and office-related vocabulary in their most common variations.  This will eliminate the risk of misinterpreting important information in a business meeting, in email communication or in live conversation.

1.  AmE: check vs.  BrE: cheque

DEFINITION: Noun denoting a written order for a bank to pay a certain amount of funds.

INTERESTING FACT: In the rest of the English-speaking world apart from the US, cheque is the more frequently used version.

2.  AmE: Paper cutter vs.  BrE: Guillotine

DEFINITION: A tool used for cutting paper.

INTERESTING FACT:  Paper cutters in a form that is similar to those we use today were patented in 1844 and 1852 by Guillaume Massiquot.

3.  AmE: Billboard vs.  BrE: Hoarding

DEFINITION: A large panel on which ads are displayed in public places, usually near highways or buildings.

INTERESTING FACT: It was in New York where the first large American outdoor poster (more than 50 square feet) appeared on a billboard, posted by Jared Bell’s office for the circus in 1835.  In 1850, exterior advertising was first used on street railways.

4.  AmE: Labor union vs.  BrE: Trade union

DEFINITION: An organization that consists of workers and union leaders joined together with the aim of protecting and advancing the workers’ interests.

INTERESTING FACT: During the UK economic crises of the 1960s and 70s, and culminating in 1978-79 (Winter of Discontent), trade unionism played an important role.  Trade union reform happened after the election of the Conservative Party led by Margaret Thatcher.

5.  AmE Stock vs.  BrE: Share

DEFINITION: A type of security or corporate equity ownership that gives its owner proportionate voting rights, and a claim on a company’s income or assets.

INTERESTING FACT: One of the biggest stock scams in history was that related to Barry Minkow’s company called ZZZZ Best Inc.  in 1986.  The company was founded as a carpet cleaning company but Minkow developed it into multi-million dollar corporation through forgery and theft.  Eventually, he was sentenced to 25 years in prison and the company was shut down.

6.  AmE: Inventory vs.  BrE: Stock

DEFINITION: Either a complete list of items such as property, goods, or the contents of a building, or the quantity (not just a list) of goods or merchandise in a store or warehouse.

INTERESTING FACT: There are different kinds of inventories.  One of them is “dead” or “excess” inventory, which refers to inventory that is at the end of its product life.  This is usually a sign that a company’s final product is poor or that their business suffers significant problems.

7.  AmE: Cash register vs.  BrE: Till

DEFINITION: A machine used in shops / stores to hold bills and coins and print out a receipt for the goods or services customers purchase.

INTERESTING FACT: The first cash registers were invented to prevent employee theft and their original name was Incorruptible Cashier.

8.  AmE: Investment bank vs.  BrE: Merchant bank

DEFINITION: Financial institution (a bank) that provides funds for companies in the form of share ownership instead of a loan.

INTERESTING FACT: Merchant/Investment banks existed even in the Middle Ages and were invented by Lombardy grain merchants.

9.  AmE: Sincerely yours/ Sincerely vs.  BrE: Yours sincerely

DEFINITION: A phrase used to end a formal letter or a message, also called a valediction.

INTERESTING FACT: There are many types of valedictions, i.e.  phrases used to bid farewell in a letter or a message.  While each type of formal document has a particular valediction that is appropriate for it, informal ways to end a letter may vary a lot.  One of the interesting ones is the acronym YTTDSFATCCSH or Yours Till the Desert Sands Freeze and the Camels Come Skating Home.

10.  AmE: National holiday/Federal holiday vs.  BrE: Bank holiday

DEFINITION: A public holiday when most businesses are closed.

INTERESTING FACT: In the UK there are 6 bank holidays and two common law holidays per year, while in the US there are 10 federal holidays.