What Is Financial Budgeting?
A reliable way for small business owners to ensure their business is profitable and operating as planned is by including a financial budgeting and forecasting process in their management tool kit. This will ensure that their business has a financial game plan (budget) for the upcoming year based on certain specific objectives and goals that need to be achieved from business operations. It’s never a good idea to start running a business without a financial plan on what needs to be accomplished and how success would be defined and measured.
What is forecasting?