The only business budget template you’ll ever need (unless you run a very complex business)!
This business budget template in Excel is the perfect template for:
- small business owners
- medium businesses
- people who think making a business budget is hard
- people who want a business budget that shows you your budget, your year to date expenses and your current monthly expenses
- people who are afraid of budgets
- business owners who want a full and complete budget in less than 1 hour
Every business needs a budget!
One of the main reasons why businesses do not succeed is because they run out of cash. This is often caused by them having problems with pricing and costs. This means that their financial management is not as it should be. A business budget can help you to avoid these issues.
This business budget template gives you a total overview of how your business is doing: this month, year to date, and compared to what you expected (see image below). It shows you how sales and expenses are developing in your business. Based on this, you can also determine what marketing and other strategies are working well and which ones need adjusting.
Using this template, you can create a full and complete budget for your business in less than 1 hour. Once you have it, you update it monthly to track your progress.
Imagine how effective you could be if you can see how your business is doing and then make decisions based on data instead of just reacting to circumstances!
What is included in this template?
The business budget template is an Excel document that includes 5 worksheets:
- Overview (see the above image for an example of the Overview worksheet)
- Monthly Actuals
- Monthly Budget (this is calculated automatically from your Yearly Budget)
- Yearly Budget
When you start using it, you fill out the Yearly Budget worksheet. Your Monthly Budget is automatically calculated. Every month, you fill our your Monthly Actuals. The Overview tab shows you how your business is progressing. Based on this, you can make changes to your business strategy. Or, if you see that a particular strategy is working well, increase your efforts in that area!
What kind of industries is this business budget template suited for?
This template has been designed for and tested by small and medium businesses in the following industries:
- service business, including marketing consultants, business consultants, electrical service companies and IT companies
- agribusiness, including farmers and poultry business owners
- retail, including clothing stores and general retail shops
- manufacturing, including small-scale companies manufacturing cosmetics and health supplements
- import & export companies
Why your business needs a budget
If you are not budgeting in business, you are not laying out the priorities and strategies for your business. It means that you have no idea where your business is going.
- It will tell you how the business is doing right now as compared to where you want to be.
- It can tell you where your business is facing problems and you will be able to address these issues before they become big problems.
- It can help you optimise your marketing strategy. Your budget will tell you when business will be slow and when it will pick up. You can carry out marketing activities based on this data.
- It will help you keep control of your business and make it more efficient.
- It can help you to grow your business because you know where your money is and where it is going. Whenever new priorities arise, you will be able to see the actual situation of your business and determine whether you are able to make use of this new opportunity.
In short, a business budget will help you make good business decisions.
Use this business budget template to gain a better understanding of the patterns in your business and make better business decisions.