Budget

In general terms, a Financial Budget is a collection of figures, which shows interested parties an achievable outcome over a projected time span.

All business should have a budget for three years ahead. It is not a question about the size of trade but about knowing where you are going in the future.

With a 43% folding rate over four years for small businesses, it makes sense for financially interested parties to ask, "has a budget been established or worked out correct"?

If you go on a holiday in a foreign country, you would, without any doubt, had made an extended list of plans over how you are going to spend your time and money and use the program to get the best holiday.

The business world is s strange country to all companies, big or small, and their plan is the Budget. It tells them where they are in the business world at any given time and, therefore, can choose the correct direction for success.

With no budget, you run your business as a charity bankrolled with your own money.