When running a business, it’s essential to be keenly aware of your finances in terms of where your money is coming and where it is going. For this reason, budgeting and projections are vital.
Accurate budgeting takes into account your spending so far and allows for future expenditures, working in tandem with your projections. These are particularly essential when looking for investment, loans or partnerships as potential collaborators will need a precise indication of the current and future state of your business.