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How do I create a budget for a small business?
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Creating a budget for a small business is a critical step for any successful business. It will help you track your income and expenses, and make sure that you are able to cover your costs and stay on top of your profits. The best way to create a budget is to break down your expenses into categories and analyze each one. Make sure you track all of your expenses, from fixed costs like rent or mortgage payments, to variable costs like taxes, and to discounts or promotions you offer. Identify the areas where you can make cuts to save money and redirect resources towards more critical efforts. Review the budget regularly to make sure it still fits your needs and business goals.