Budgets are no longer unchanging entities. In the midst of the information age, with transactions moving faster, business spanning the globe, and technology providing helpful tools to re-plan and re-think budgets, many small businesses are adopting a new way of thinking about their financials.
Conventional budgeting wisdom offered this guidance to small business owners: create a budget and don’t stray from it. An article from CFO Magazine points out that traditional budgeting is expensive, time-consuming, and quickly becomes out-of-date within a few months.
The benefits of rolling forecasting are vast, but overall, the methodology allows small (and large) businesses greater ability to adapt to what many people say is a volatile financial environment.…
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Starting a small business is hard. And in today’s economy, getting the most for your money often equates to the creative distribution of your financial resources.
Starting a business is an exhilarating time. It can also be a very stressful and busy time. As a local business owner, you often end up wearing all of the hats (CEO, Accounting, HR, Marketing, etc.) in the beginning due to lack of funding early on.
