What is a business budget?
A business budget is a financial plan that determines exactly where you’ll spend your business’s money over a set amount of time. The scope can be monthly, quarterly, annually, or over any time period you choose. This allows you to prioritize spending so you can meet goals more efficiently.
To create a useful budget, you should keep in mind past fiscal performance and have an understanding of business forecasting methods. You’ll want to be adaptable in case unexpected changes affect your finances, but also keep in mind long-term goals that will influence your spending in the future.
How to use a business budget template
Our free Excel budget template is a great way to help you realize how profitable your business is. It can also help you find under-utilized funds that can be reinvested in more useful projects.
Using a business budget template can even provide insights once you know where all of your money is going. Analyzing your expenses can help predict seasonal changes in your business and other trends, allowing you to reallocate funds based on those needs.
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