It's no secret that startup businesses face many challenges in their early years. Doing the numbers before your business gets off the ground will help you find out if you have enough cash to actually get started, and plan ahead so you have the resources to keep going. Our resident expert Ainsley Bryant talks to ShortPress.
“While it’s important to be optimistic about the potential success of your new business, it’s even more important at this early stage to be realistic – don’t overestimate your potential earnings and don't underestimate your costs” she says.
A good startup budget includes the basic ingredients of initial costs, fixed costs and variable costs, and you need to be realistic in your projections of business expenses, sales revenues and cash flow.
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