Explanation
Budgets help:
- Control expenses
- Monitor financial performance
- Allocate resources strategically
Common budgets include:
- Operational budgets
- Capital budgets
- Cash flow budgets
Practical Example of Budgeting
A marketing agency sets an annual budget of £500,000, allocating £200,000 for staff, £100,000 for marketing campaigns, and £200,000 for operational costs.
How Bizcap Can Help:
If budgeting reveals a need for extra capital to achieve your goals, Bizcap can provide tailored funding aligned to your financial plans.