Budgeting and Forecasting Services
It can understandably be very difficult to make business decisions, especially if you do not have the right information to determine if those decisions are sound. It’s good to have long term business goals, but those goals need to be realistic and there must be a strategy in place to help you achieve them.
Alexander Bright has a team of qualified B2B accountants who offer a wide range of budgeting and forecasting services for Australian businesses, including budgeting and business planning. We can work with your long-term business goals to design a realistic yet lucrative business plan.
Effective budgeting and business planning can have a significant impact on how the success of your business. It can help with securing finance, assessing potentially profitable business opportunities, and safeguarding the survival and growth of your business.
What is Budgeting in Business?
Budgeting is an estimate of income and expenditure set over a future period of time by a business to enable it to set goals and targets. Budgets work as a great control and comparative tool to understand where to spend or not spend money.
Why is Budgeting & Business Planning Important?
- It provides your business a roadmap to follow
- It allows you to plan ahead of time and instil discipline at every level of the processes
- It allows for exploration of potential investment and strategy, as a budget will allow you to establish reserve funds to set aside
- It works as a great tracking tool to compare against benchmarks
Our approach is tailored to the client’s specific needs; however we take the following basic steps to produce the best results:
- Set up SMART Goals (Specific, Measurable, Attainable, Realistic, Timely)
- Collect financial and non-financial information and weight it
- Track and analyse money coming in
- Track and analyse money going out
- Review cash flow and set up a budget in line with short term strategy
- Provide a multiple scenario based budget draft to finalise
Contact Alexander Bright Today
For more information regarding budgeting and business planning or to get a quote for our budgeting and forecasting services for small and medium sized businesses, contact Alexander Bright today.