Personal Budget

LOOK AFTER THE PENNIES...

If you are struggling with your business plan we can help:

  • Business mentoring

  • Free training and workshops

  • Access to finance

  • Free online resources

Creating a personal budget is an essential process to embark upon when starting a business and should be the first task you undertake when thinking about the future finances of your start-up.

Simply put, a personal budget is a cumulative list of ALL of your annual expenses, which once aggregated and calculated across 12 months, will give you the minimum net profit your new company will need to produce annually to sustain your lifestyle. This exercise should be completed by each director/partner within the business to make sure everyone...

Regardless of whether you are starting a business or not this is a useful process to go through to manage your personal finances and can be eye opening, but will give you a firm base for you to build your businesses finances.

This is an exercise to determine viability. If the income from your business will not be able to cover your living costs then there is a problem, as while in the short term you may be able to cut back on a few of life’s pleasures, in the long term if you can’t cover your rent or mortgage then pressure will build and cracks will appear.

Luckily for you we have put together a really easy to complete personal budget for you to complete. The document can be downloaded below and should you have any problems filling it out or would like some support to put together you business finances we run regular courses and have a number of programmes to help your start-up succeed.

For more information get in touch by either filling out our contact form or calling us on 020 7101 0696