Small business owners have experienced the same financial tensions with increased competition and unstable revenues. This has created the need for companies to tighten their spending and recognize the importance of creating an annual budget.
Interestingly, many business owners don't create a budget because they either don't know how, or don't think it is a good use of their time. This is unfortunate because a formal budgeting process helps to ensure that resources are available for those things that support business growth and development.
7 Reasons to Create a Budget
1. Budgets Set Targets
Budgets are used to project revenues and spending to help