According to a survey by Clutch, 61% of small businesses didn’t prepare a budget in 2018. The most likely reason behind that is they think their business doesn’t need to have a documented budget. If that makes you think that your own small business doesn’t need one, don’t let it persuade you. Budget planning is an important practice, regardless of the size of your business. Without it a budget, you could mismanage your finances unintentionally. And that badly affects your business in many ways. Budget planning can be quite a headache. But it doesn’t have to be with the help of our Sample Small Business Budget Templates! You’re very much welcome to view them below!
FREE 10+ Sample Small Business Budget in Google Docs | Google Sheets | Excel | MS Word | Numbers | Pages | PDF
Small Business Budget Template
Business Budget Template
Monthly Business Budget Template
Business Plan Budget Template
Small Business Budget Template Excel
Small Business Budget Example
Small Business Budget Worksheet
Small Business Budget Template PDF
Small Business Annual Budget Template
Small Business Budget Template Free
Small Business Budget Sample
What Is a Small Business Budget?
A small business budget is a document that shows what necessary expenses a small business must cover for a period. It could either be for a week, a month, a quarter, or a year. The expenses that it should cover are those that are essential for business operations. It guides small business owners to finance their business needs sufficiently and without overspending.
How to Create a Small Business Budget
As a business owner, you must value the importance of budget planning. Take note that one slip up in managing your finances can be its downfall. That’s how vulnerable small businesses like yours can be. With those said, always take time to formulate a sample budget sheet for small business. It’s one good way to secure your financial assets. Here are a few easy steps to create a small business budget:
Step 1: Calculate Your Business Income
Your business income is also where you should get money for your budget. You need to calculate how much income your business generates regularly. After that, take a certain percentage of it. That’ll be the money that you should use for your weekly budget template or monthly budget template. However, if you’re making a startup budget for a startup business plan, your source of income would be your personal finances.
Step 2: Identify All Business Expenses
List down all the expenses that your business needs. Once you’ve done that, categorize them accordingly, depending on what type of cost they are. And after you’ve categorized them, allocate the amount of money required to purchase them.
Step 3: Make Room for Possible One-Time Expenses
Throughout your business operations, other essential expenses might arise aside from the usual daily expense. So make sure to secure extra finances as a backup. Business budgets must have that in case of emergencies.
Step 4: Add Everything
Once you’ve covered all the expenses and allocated money for each, add them all up. Use a calculator just to be sure. The sum will be the total expense that you should cover for a given period. And, that’s about it. You have your small business budget.
FAQs
What should I cover in a business budget?
These are the expenses that your business budget should cover:
- Rent
- Office supplies
- Utilities
- Tools and equipment
- Raw materials
- Marketing expenses
- Travel expenses
- Transportation
- Investment
- Labor cost
What are the four techniques of budgeting?
These are the four techniques that you can use for budgeting your small business:
- Zero-based budgeting
- Incremental budgeting
- Value proposition budgeting
- Activity-based budgeting
What are the ways to improve my budgeting ability?
Here’s a quick guide that can help you improve your budgeting ability:
1. Always track your income.
2. Keep tabs of your spending, such as keeping receipts.
3. Always look for the cheapest alternatives without disregarding quality. Be practical and economical.
4. Never drain your finances rock bottom. Save some.
5. Repeat!
It’s never easy managing finances to keep your business running. But that’s not to say it wouldn’t be smooth sailing. With an effective, well-structured budget, your business will enjoy financial stability. So start your budgeting task now using our example small business budget templates!
Related Posts
FREE 5+ Sample Graduation Speech in PDF
FREE 14+ Sample Discharge Summary Templates in MS Word | PDF
FREE 7+ Self Introduction Speech Examples for in PDF
FREE 27+ Isometric Papers in PDF | MS Word
FREE 11+ Journal Article Samples in MS Word | Google Docs | PDF
FREE 7+ Sample Functional Requirement Document Templates in MS Word | Google Docs | PDF
FREE 27+ Sample Speech in PDF
FREE 11+ Sample Research Reports in MS Word | Google Docs | Pages | PDF
FREE 12+ Article Writing Samples & Templates in PDF
FREE 37+ Sample Report Writing Format Templates in PDF
FREE 9+ Sample Classroom Sign Out Sheet Templates in MS Word | Google Docs | Pages | PDF
FREE 10+ Business Profile Samples in PDF
FREE 12+ Sample Football Score Sheet Templates in MS Word | Google Docs | Google Sheets | Excel | Numbers | Pages | PDF
FREE 21+ Sample Delivery Note Templates in MS Word | Numbers | Pages | Excel | PDF
FREE 38+ Research Papers in PDF