Budgets and Cashflow
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
The techniques we utilize in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business.
In addition to goal setting value, budgets will often improve your chances of acquiring funding as financers often require forecasts as a prerequisite for funding approval. Cashflow forecasting is a vital part of ensuring that your business will always have the cash it needs, because profits don't pay bills - cash does.
There are many types of budgets and we can help you design the right budget for your needs and requirements. Let us show you how a budget and a cashflow forecast are able to provide feedback to allow you to prepare for the future of your business.
Liaison with IRD, bank
CooperAitken is able to assist you with negotiations and your ongoing relationship with your Banks and with the IRD. Banks and the IRD often feel more confident when an independent professional is involved.
10 Key budget hints
1. Use benchmarking reports to find averages for your business
2. Attend courses to help with you budgeting skills
3. Check out BankLink, MYOB, Xero for online budgeting tools
4. Use passed results to assist with your budgeting
5. Be realistic
6. Remember to separate out budgets for big expense items and for personal drawings
7. Align your budget to your long term goals – know how much you need each year to achieve these goals
8. The budget has to be your budget, not the banks
9. Share your budget with your professioanl advisors
10. Monitor and modify the budget and seek help early if things are not going as planned
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