What is our Budget Builder?
How do you create your business budget? Do you add 5% to everything to roll out for the next year or do you start with your 5 year strategic plan and work backwards?
By creating a budget that takes a step towards your larger goals and vision based on your strategic plan, you will be creating a financial action plan.
Your budget serves your management decisions throughout the year by monitoring the expenses and revenues linked to each of your activities.
Your budget allows you to show a history of achieving targets and benchmarking performance for future years.
This year on year proof of performance can be vital for attracting investment and finance.
Your budget comparing actual to budgeted performance can be used to highlight outstanding performance in different parts of your business enabling that to be used as a model for other activities.
Your projected margins and growth can also be benchmarked across other sectors, industries and companies within your industry.
Throughout the budgeting process, we will consider the desired growth in the key margins of your business. we then analyse the various elements of cost control, capital expenditure, growth plans, cash requirements and revenue opportunities.