Top 10 Tips on Setting a Business Budget (Part 2)

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Top 10 Tips on Setting a Business Budget
(Part 2)
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One place where many new business owners
unfortunately completely fail revolves around
their budget- either the lack of a budget, the
creation of a very improbable budget, or creating
a decent budget and not following it. Much like a
budget made for running the home, the business
budget is an extremely useful tool in helping to
manage spending, to help gain and overall picture
of business health and of course, is always
necessary for basic accounting purposes.
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Here are the last 5 tips for setting up a
business budget
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6. Never forget to include expenses that dont
happen monthly into the budget, based off of
sound projections. You can break up this cost
per month. These things include equipment
repairs, project implementation costs, and so on.
Read the 1st Top 5 Tips for Setting up a Business
Budget HERE!
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7. Include your salary, separate it from the
profits. If youre brand new, this might seem
difficult, but its necessary.
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8. Always include those monthly costs like rent,
utilities, and split up quarterly taxes- the very
basics of every day operation.
Taxes
Utilities
Rentals
Read the 1st Top 5 Tips for Setting up a Business
Budget HERE!
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9. Always review monthly and adjust based on your
businesss performance. Theres no real
situation that states that you need to stick to a
budget made once and never change it.
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10. Finally, remain positive. Your business is
doomed from the start if you approach it with
impending failure in mind.
Stay Positive!
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