Budgeting for the new financial year
Jun 22, 2020
We are coming up to a new financial year.
This is an opportune time to complete and/or update your business budget.
Budgeting is very important for a number of reasons:-
- A budget helps you to determine a break-even number therefore providing a target to aim for each month.
- A regularly reviewed budget enables you to compare against actual performance and quickly identify losses and take remedial action.
- Preparing a budget provides an opportunity to think about what you are going to spend and set limits for the business owner and staff.
- A budget allows you to plan operations and gives those responsible a better handle on things.
- A budget is required for lending and demonstrates good management.
Very easy to do with an excel spreadsheet and only takes less than an hour to put together. Plus you have it for ever and can update at any time.
Contact me on 0439 807 768 for details.😄💡😄