Is a business budget worth it?

While the cost of fuel, energy, food and materials has gone crazy in the last year or two, it does not mean that doing a business budget is worthless.  It is still an invaluable piece of data for any business.

What is a business budget?

A business budget is simply a financial plan that business owners can use to better manage their money and help their business to thrive.

The budget can include a list of estimated expenses such as internet bill, phone, hospitality, charity etc and can be used for weekly, monthly or annual plans. It is a guide rather than a rule of thumb and simply helps a business to mark out suggestions into what it can and should be spending from month to month.

And just because your have a set figure in mind for stationery (for example) does not mean you have to spend that much.

A business budget can include:

• expenses/payments that the business needs to make in order to continue to operate.
• a note of projected income

Why is a business budget important?

It gives a business the opportunity to analyse how the business is performing monetarily through the year in comparison to the actual budget.  Cashflow can mean it is difficult for a business to see where the money is always going and a business budget plan can help with that.

How budgets can be helpful

Having a list of costs can help a business to see what purchases and expenses a business has in the future and that can allow them more room for planning, expansion and building real momentum in the business.

If a large purchase is coming up, the business can see what is currently going out and plan in advance so that there is money in the bank to pay for it. It can also allow business owners to increase revenue streams if the current income is not enough to meet the projected outgoings in a business budget.

Planning out a companies business budget is highly recommended and can really help your businesses to build some real momentum going forward.  And that is where we can come in.

Our goal is to make running your business easier. Whether it’s getting paid by your customers on time, completing your VAT returns or processing payroll; the demands on businesses can seem endless.

Let us handle your bookkeeping needs so that you can focus on running your business and gain some real momentum.

Covering the full range of bookkeeping services that the typical business would require, we have built our bookkeeping services around going a step further. And that means that we offer not just what you expect, but what you need (even if you didn’t know you need it).

From VAT returns and payroll services to custom built MySQL databases as part of our Bespoke Services. From a once a year service to a daily interaction service into your business; we can be as integrated with your business as you want us to be.

While you may not love bookkeeping, we do. So whether you have a question about one of our bookkeeping services or you want to discuss a tailored service to suit what you need to get on with running your business, our door is always open.

Call or email us and lets start to build some momentum in your business.