Creating a business development budget is vital for planning and controlling expenses, which are important for business success. While developing a budget may seem complex, the process is simple - it involves systematically applying basic accounting and business principles to the specifics of the project. The key steps are to determine measurable and realistic development goals, review existing financial documents to estimate costs, and define cost categories like payroll, materials and goods.

1. Development Budget :
Creatinga businessdevelopmentbudgetisavital part of planningforyournew business,orfora new
projectwithinanexistingbusiness.Withoutone,youhave noreliablemethodforestimatingprofitsor
for controllingexpenses -- bothvital toolsinbusinesssuccess.Althoughdevelopingabudgetforany
businesscanseemintimidatinglycomplex,the actual processissimple.It'samatter of systematically
applyingbasicaccountingandbusinessprinciplestothe particularsof your project.
1
Determine your development goals for the business or department. Good goals are specific,
measurable, realistic and timely.
 Specific goals are clearly defined. "Make money" is not a specific goal. "Make $100k
profit" is specific.
 Set measurable goals defined in terms where you can easily see whether you have
attained them, and check your progress. "Increase market share" is not measurable.
"Increase market share to 55 percent" is.
 Realistic goals are things you can reasonably reach given the resources and realities of
your business situation. "Dethrone Microsoft" is not realistic. "Launch a viable streaming
video product" is.
 Timely goals are set with a specific timeline for progress. Without a timeline, it's difficult
to gauge how much money to put into your budget for any given quarter.
2
Review any existing financial documents for your company or department. Use the
expenses from your budget history to estimate the costs of development.
 If you're creating a business development budget for a new company, or a project your
company has never taken on, you won't have applicable financial documents. In this case,
you should base your estimates on numbers for other businesses in the same region and
industry. You can get general industry statistics from trade associations and public
records.
 3
 Define the cost categories for your business development plan. Some examples
include facilities, payroll, taxes, insurance, raw materials and cost of goods sold.
Revenue Budget :
Revenue budgets are forecasts of a company’s sales revenues and expenditures, including
capital-related expenditures. It is essential that you establish whether you possess enough
financial means to conduct operations, grow your business and ultimately make a profit. Without
this planning, your company's future may be uncertain as you may not know how much money
you’re taking in or spending. Revenue budgets ensure that businesses efficiently allocate
resources -- and in doing so they save time, effort and money.
Differentiate bet SDG n MDG :
on the new set of goals the United Nations is working on for 2016-2030, known as the

2. Sustainable Development Goals or SDGs. Urban activists around the world worked hard to get a
goal explicitly related to cities included in a list approved by a UN working group in July. The
goals will be refined further and voted on by the United Nations General Assembly in September
2015.
The SDGs are a follow-up effort to the widely-publicized Millennium Development Goals, or
MDGs, in effect from 2000 to 2015. Supporters claim the MDGs galvanized unprecedented
efforts to meet the needs of the world’s poorest people; critics say there’s been very uneven
implementation of the goals by topic, country or world region.
 The eight Millennium Development Goals (MDGs) in effect from 2000-2015
 The 17 Sustainable Development Goals (SDGs) for 2016-2030 approved by the UN
working group (the urban goal is Number 11)
 The 10 proposed targets specifically related to the urban SDG