The preparation and implementation of a budget is a key step in the development and implementation of your business goals. In fact, your budget is so important that failure to prepare a realistic budget may doom a startup from the beginning.
Using this vital tool, you can track cash on hand, business expenses, and how much revenue you need to keep your business growing or at least afloat. By committing these numbers to paper, your chances of succeeding with your business are helped by anticipating future needs, spending, profits and cash flow.