Every now and then, businesses require budgets in order to set their targets and determine their performance. During the lifetime of a business, it requires many budgets and one of them is a business startup budget. A business startup budget template is a professional document that is prepared before the commencement of a business. If any one wants to start a new business, it is beneficial for him to create a business startup budget template.
As long as you don’t have a properly prepared budget, you can not plan for any kind of business. All the estimates of incomes and expenditures can be done through budgeting, and that is why it is of that much importance, especially before the commencement of business. Most of the entities also use a business startup budget template for this purpose.
Hopefully we will add more business startup budget templates at this page apart from 30 already present ones.
Best Business Startup Budget Templates
Bank Business Startup Budget Template
Simple Business Startup Budget Template
Quarterly Business Startup Budget Template
Complete Business Startup Budget Template
Detailed Business Startup Budget Template
Basic Business Startup Budget Template
Catchy Business Startup Budget Template
Official Business Startup Budget Template
Sample Business Startup Budget Template
Company Business Startup Budget Template
Specific Business Startup Budget Template
Agency Business Startup Budget Template
Faculty Business Startup Budget Template
Business Startup Cost Budget Template
Itemized Business Startup Budget Template
Particular Business Startup Budget Template
Entity’s Business Startup Budget Template
Formal Business Startup Budget Template
Steps of preparing a Business Startup Budget Template
Following are some useful steps that you should follow in order to prepare an effective business startup budget template:
1. Planning the commencement of business:
Determine how you are going to start your business and especially day one. Properly account for the relevant costs which can be divided into four different categories.
- Cost of facilities required for the business location such as costs of office, warehouse, or costs for purchasing a building etc.
- Capital expenditures such as costs of furniture, machinery, equipment or vehicles that are necessary for startup of the business.
- Costs of materials and supplies, office supplies, advertisement and promotional costs etc.
- Some other costs like costs of licenses and permits, insurance costs and any other legal costs etc.
2. Fixed and Variable Expenses:
- Fixed expenses are those that will remain fixed and must incur irrespective of the number of customers or production. For example, rent and utility bills etc.
- Variable expenses are those that will vary according to the number of customers or volume of production. For example, commission, cost of production and administration expenses etc.
3. Projected Sales:
As the startup budget is prepared before actual commencement of business, so it is difficult to estimate the sales. However, you can use data of other entities within the same industry to obtain necessary information. Moreover, the sales can be estimated by the following three ways:
- Best case scenario: in this case, you estimate the first year sales under favorable circumstances.
- Worst case scenario: project the first year sales under least favorable circumstances.
- Ordinary case scenario: it is a mediocre situation in which first year sales will be average.
4. Cash flow statement:
At the end, summarize all the estimated cash inflows and outflows and prepare a projected cash flow statement.
Effective Business Budget Templates
Business Startup Budget Worksheet Template
Bank’s Business Startup Budget Template
Typical Business Startup Budget Template
Categorized Business Startup Budget Template
Yearly Business Startup Budget Template
Standard Business Startup Budget Template
Business Startup Expenses Budget Template
Simple Business Startup Budget Template
Sample Business Startup Budget Template
Elementary Business Startup Budget Template
Important Business Startup Budget Template
Practical Business Startup Budget Template
Thorough Business Startup Budget Template
Exclusive Business Startup Budget Template
Elaborated Business Startup Expenditure Budget Template
New Facility Business Startup Budget Template
Straight-forward Business Startup Budget Template
Importance of Business Startup Budget Template
If the business startup budget template is properly prepared and the budget is correctly followed, it will have following benefits to the entity:
- It forecasts profits by creating timeline.
- It creates a balance in expenses and clearly differentiate what is wanted and what is needed.
- It is helpful in comparing the expected performance with the actual performance of the business.
- A startup budget or any other budget provides you a guideline that enables you to determine the right time to make certain investments.
- It also compare the initiatives while determining return on investment.
- A complete and professionally prepared startup budget helps to convince the potential investors, in order to meet capital requirements.
- With a budget in hand, the investors get a clear understanding of your financial situation.
