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How do I best go about creating a budget for my small business?
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1. Start by creating a list of all of your necessary expenses, such as rent, utilities, payroll, and any other regular payments that you need to make.
2. Calculate your estimated income, taking into account any revenue streams you have such as sales and investments.
3. Allocate your estimated income into your necessary expenses list and set limits on what you are willing to spend on each item in order to stay within your budget.
4. Track and monitor your spending throughout the month and adjust your budget accordingly.
5. Take steps to increase income or decrease expenses if you are consistently over or under budget.
6. Regularly review and update your budget to ensure that you are able to react to any changes in your finances.