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Tell me and the class about your experiences with budgeting in a business environment

Tell me and the class about your experiences with budgeting in a business environment

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Answer #1

It's essential to plan and manage your business' financial performance. Creating a budgeting process is the most effective way to keep your business - and its finances - on good way

Business plan is a roadmap for your future development. It describes your business, its objectives, financial forecasts and your market. It can help you secure external finance, measure success and grow the business. However, for internal management purposes, budgeting can be the most effective way to control your cashflow, allowing you to invest in new opportunities at the appropriate time.

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