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Help me build a budget for a new business
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Determine your start-up costs. Look at your business plan and list all the one-time costs you will need to incur in order to get your business up and running. These expenses could include items such as equipment, furniture, business license fees, legal advice, and more. 2 Estimate your monthly expenses. Once you have your one-time expenses listed, look at what expenses you will incur on a monthly basis. These may include items such as rent or mortgage, utilities, advertising, wages, and other miscellaneous expenses.3 Estimate your income. Calculate your projected income by looking at your expected sales, potential customers, pricing, and any other sources of income. 4 Budget for any unexpected expenses. It's always wise to be prepared for unexpected expenses, such as rent increase, additional staffing, or unanticipated repair costs. Have a plan for how your business will handle these costs if they should arise. 5 Create a tracking system. Once you have your budget established, create a system for tracking your income and expenses. This will help you stay on top of your budget and identify any trouble areas early on.