After budgeting, forecasting is another essentially task for any business. The two acts are similar; however, they yield different results. A budget is an estimate of your company’s revenue and expenses over a given period, usually the financial year. In many ways, it’s a status report on your cash flow and financial position and what your expectations are for the future. Forecasts on the other hand, are estimates of your financial outcome that typically concern key revenue items and your Read more...
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Starting a business is hard. In fact, most businesses that start today won’t make it. The reasons why businesses fail is as varied as the types of businesses themselves. However, one of the main reasons isn’t due to a lack of experience or poor management. Often, businesses fail because of poor financial decisions or a lack of cash flow. Why It Matters Once your businesses is off the ground, how you manage your finances is vital to its continued success Read more...