Small Business Start Up Finances Guide
Step 4 – Consider Your Capital Needs – What? You Mean a Budget?
There are 3 VERY good reasons for developing a budget:
- So that you know how much money you will need;
- Because it paints a great picture of how you intend to develop your business and therefore goes hand in hand with a great plan or strategy (the starting point for success in any endeavour)
- If you need to get a loan or investment
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One of the biggest reasons why start up businesses fail is not having enough cash to see them through the early days. This is such a waste of time and money and is easily avoided by getting clear on your cash needs.
Its not nearly as boring or hard as it sounds.
Because every aspect of a business involves a flow of money (either in or out) what a budget forces you to do is to get clear on your plan and how you’re going to make this business a success.
Business planning and budgeting can be tricky if you haven’t done it before.
For a free, no obligation 15 minute consultation on these matters, contact us on 1800 347 845 or [email protected]