Let's talk Budget and View an ExampleHave you incorporated a budget as a key financial tool for your small business?
Budgeting is detailed planning for the allocation of funds in a business. It is sometimes referred to as the financial picture of the business; i.e, how the business plans to spend its financial resources. Whether your business plan is for next year, for the next three years, or for the next five years, budgeting can help you keep on the right road. Deciding to expand your business whether it be by offering a new products or services, a budget is necessary. Because operating a small business is not a cut-and-dried affair, the first budget you prepare often uncovers problems with your business plan and helps you determine whether or not your financial goals are within reach. The budget will also help you focus and select from alternatives to help make your business plan realistic and achievable. In a small business, the year end profit should be large enough to make a return on your investment and return on your own work, i.e., pay you a salary. They key word here is, should! Small Business Notes provides a budget example for you to review.
0 Comments
Leave a Reply. |
Archives
July 2022
Categories
All
AuthorMy mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions. |
We Work to Provide Unique Solutions"Our team of innovative professionals use their knowledge and experience to set your business and team of professionals up for success. Our extensive accounting and operations skills are a start and key tools to company growth, building team cohesiveness, establishing clear purpose and goals, and improving process inefficiencies. Our services are key to businesses of all sizes. We handle providing the detail framework to your business so that you may focus on building your business. |
Contact UsSTAY CONNECTEDNEWS & TIPS IN YOUR INBOX
|