Running a small business often requires penny-pinching and savvy budgeting. However, it can be difficult to manage finances without a careful budgeting plan in place. This is especially true when unexpected expenses pop up. Nearly one-fifth of businesses surveyed by Headway Capital said they were concerned about unexpected expenses, making a solid budgeting plan key to business success.
In this article in Business News Daily, small business owners can read about how 6 smart budgeting tips to help them be prepared for unexpected expenses. The tips include, “define and understand your risks,” “overestimate your expenses,” “pay attention to your sales cycle,” “plan for large purchases carefully and early,” “remember that time is money, too,” and “constantly revisit your budget.”