Tips for Creating Your 2010 Business Budget
Believe it or not, the New Year is just around the corner, leaving many business owners scrambling to create a business plan for 2010. A sound budget is one of the cornerstones of any enterprise, large or small, and taking the time to plan ahead makes all the difference in crafting a realistic plan that will help your business grow stronger and more profitable. If you’re a small business owner tasked with budgeting your resources for next year, keep the following tips in mind: Budget conservatively: It can be difficult to accurately predict income or expenses, so err on the side of caution. Assume that costs will be higher than anticipated and that income may be lower, and then craft a budget tailored to those pessimistic figures. You'll be prepared for the worst, and if business in 2010 is as good as (or better than) you hope, it will come as a happy surprise.