A business budget is an action plan to outline the financial and operational goals. It will help to manage and track the expenses and income of a business. So here are the 5 steps guide to create an effective business budget.

  • Calculate the Business's Average Income
  • Determine Fixed Business's Costs
  • Tally Down the Variable Business's Expenses
  • Set Up An Emergency Fund for the Business
  • Finalize the Numbers for Income, Expenses, Fixed Costs and Emergency Fund