18.11.2020

Budgeting, are you doing it?

 Show Interest

Budgeting, are you doing it?

 Show Interest

 

Love the idea of budgeting but no idea if it will benefit your business, the answer is YES IT WILL!

 

Having an achievable realistic budget can help provide you with focus and assist you in achieving your goals.

Main things to consider:

  1. Make sure your budget is challenging but achievable – you need something to aim for and push you but at the same time you don’t want to make it too difficult as it will just put you off and end up being ignored.
  2. Use it as a way to clear out unnecessary costs – you will have so many costs you didn’t realise you were paying out for. If you don’t need them, get rid!
  3. Once set, make sure you compare your actuals each month to the budget – if you don’t use it, what is the point in having it? Make sure you are checking how you are performing against your predictions. If one month doesn’t go to plan, you can make sure you push the next to catch back up.

 

If you need any help with budgeting & forecasting for your business, it is one of our favourite areas! Get in touch – email katey@prosperbailey.com or call 01244 421206.

 

  • Chester
  • Budget
  • Chester business news
  • Accountant UK
  • Budgeting & Forecasting

Having worked most of my career in industry, working in a variety of sectors and for businesses large and small i decided i would like to use my skills to set up my own practice and help local…

Property

Property Investment - A Smart Choice in the Post COVID 19...

Property investment in general is looking like a good bet right now, notwithstanding the market adjustment that is…
Property

Why is your money in the bank?

The four main reasons why your money needs to be invested in property; If you put 50k in the bank in 10 years it is…
Employment & HR

‘The fish rots from the head’ – the significance of...

Culture is powerful. Its the foundation of any business and influences all functions, but it has its greatest influence…

More Articles

Employment & HR

The Psychological Contract in Times of Change

It is widely acknowledged that the influence of the unwritten psychological contract between employer and employee, is…

Would you like to promote an article ?

Post articles and opinions on Cheshire Professionals to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.

Find the right professionals in Cheshire

View The Full Index

Search By:

Submit your Enquiry here

Enquiry Details

Contact Details