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How do I create a business budget?
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Creating a business budget is an important part of financial planning and includes determining revenue, expenses, and profits. To create a budget, first you need to make an estimate of how much money the business will bring in each month. Next, you need to identify the different types of expenses that need to be covered, such as payroll, rent, utilities, raw materials, and overhead costs. Lastly, you need to compare the estimated revenue with the estimated costs to determine how much money you will be able to allocate toward profit and savings.