Budgeting for the small business
You know the saying “you have to spend money to make money“? It’s not far from the truth.
When starting a new business you have to spend a lot up front before ever making any money. Lease payment, furniture and fixtures, software costs and most of all payroll can drain a budget in the blink of an eye. Setting up a budget will help you keep track of expenditures and help you get off to a solid start.
Establishing a budget is usually the one time a year a business can focus on the year ahead rather than the current challenges it’s facing. A budget is a tool to help lead, manage and control the operations and finances of a business. Budget’s help makes goals, communicate the company’s progress with the team and can help transform and grow a business year after year.