Use a Six Month Budget to Guide Your Business' Recovery
SFLO-Entrepreneurs by Broward SCORE
This hands-on workshop will give you the fundamentals you need to build a simple budget for your business.
Don’t run a business without a budget to guide you and help you make critical decisions. Learn how to forecast revenues and estimate your expenses. Putting a budget together isn’t hard when you know what to do. Come to this workshop and get the knowledge needed.
What’s covered:
- How to get organized to do a budget
- Understanding the data & information you need to pull together
- Picking a method – simple spreadsheet or a commercial product like QuickBooks
- Forecasting Sales
- Estimating Cost of Sales
- Estimating Operating Expenses
- Calculating Profit/Loss
- Forecasting Cash Flows
A good budget will show you what is coming at you. Will some months produce more expenses than revenue? If so, can you do something about it? Maybe you can move payments around. Profits from prior months can be put aside to cover the shortfall months. You might revise payment terms with customers to get a better flow of cash when you need it.
