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What is a business budget and why does my business need one?

A small business budget is a detailed plan that outlines where money is spent either monthly or by year.  A good business budget will allow you to see where your business stands at all times and can adjust according to particular events.  This will help your business plan for seasonal shifts or unexpected occurrences that can pop up.     In addition to tracking expected revenue and where to spend that revenue, a budget will help you see how accurate your planning is in comparison to reality.

Where do I start?

One of the most important things you can do for your business is set a budget that will point you towards success.  Often times a small business will skip over this important process due to time constraints or not knowing where to start.  Luckily there are several resources that can help you successfully setup a budget for you business without in-depth knowledge.  Much like doing your taxes online, a template requests the information necessary to complete your small business budget.  Below is a list of a few free small business budget templates that can help you get started in creating a budget without costing you too much of your valuable time or money.

Small Business Budget Templates

Google Sheets

If you are a small business owner and have not yet taken advantage of the many tools Google has to offer for your business, you are missing out.  The Google Template Gallery is a great place to look for various templates that you can use for your business.  Google Sheets functions much like Microsoft Excel and their Annual Business Budget Template even includes instructions.  Lastly, Google Sheets and their templates are free which makes this a great choice for a business on a budget.

Microsoft Office

Microsoft Office is widely used by several small businesses.  Many are not aware of all of the templates that come bundled with the Office.  If your business is already using Office, look through the collection of budget templates they offer.  Chance are you will find one that will suit your business’ needs.

Smartsheet

Smartsheet offers a thorough template that can be downloaded here and be used with Excel.  After filling out the Excel template, the info can then be imported into Smartsheet to create your annual budget.  Smartsheet offers a 30-day risk free trial that is loaded with additional features that might be beneficial to your business.

While these are just a few of many small business budget templates out there, each one of these can help you keep your business on track for future growth.

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