What is a Business Budget? Check the last 5 tips for setting up a business budget now!
Read the 1st 5 Tips here: http://www.slideshare.net/sbaloans/top-ten-tips-on-setting-a-business-budget-part-1
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Top ten tips on setting a business budget (part 2)
1.
2. One place where many new business owners
unfortunately completely fail revolves around their
budget- either the lack of a budget, the creation of a
very improbable budget, or creating a decent budget
and not following it. Much like a budget made for
running the home, the business budget is an
extremely useful tool in helping to manage spending,
to help gain and overall picture of business health and
of course, is always necessary for basic accounting
purposes.
3. Here are the last 5
tips for setting up a
business budget…
4. 6. Never forget to include expenses
that don’t happen monthly into the
budget, based off of sound
projections.
You can break up this cost per month.
These things include equipment
repairs, project implementation costs,
and so on.
Read the 1st Top 5 Tips for Setting up a Business Budget HERE!
5. 7. Include your salary, separate it from the profits.
If you’re brand new, this might seem difficult, but it’s
necessary.
6. 8. Always include those monthly costs like rent, utilities,
and split up quarterly taxes- the very basics of every day
operation.
Read the 1st Top 5 Tips for Setting up a Business Budget HERE!
7. 9. Always review monthly and adjust based on your
business’s performance.
There’s no real situation that states that you need to stick
to a budget made once and never change it.
8. 10. Finally, remain positive.
Your business is doomed from the start if you approach it
with impending failure in mind.
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