Having a budget creates a mechanism for understanding where you are spending the business’ money and for monitoring if you are on track to achieve your profit goals. Building a budget does not need to be overwhelming. Here are 4 steps to help you get started as you prepare for the new year.

The budget planning process has many of the same benefits for business as it does for car buying. As business owners, it is imperative to understand how changes to your spend impact the bottom line. Unfortunately, many small business owners do not create a budget and lack clarity on how much they can shift their financial resources during the year.