{"id":15485,"date":"2022-03-25T20:01:10","date_gmt":"2022-03-25T20:01:10","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/business-budget-basics-atlanta-owners-should-follow\/"},"modified":"2022-03-25T20:01:10","modified_gmt":"2022-03-25T20:01:10","slug":"business-budget-basics-atlanta-owners-should-follow","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2022\/03\/business-budget-basics-atlanta-owners-should-follow\/","title":{"rendered":"Business Budget Basics Atlanta Owners Should Follow"},"content":{"rendered":"
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Well, it\u2019s now *officially* spring. Of course, that means the end of those cold winter months and the start of warmer, longer days, but it also means the possibility of disruption and stormy weather (especially in the <\/span>south this week<\/u><\/span><\/a>).<\/span><\/p>\n

On a perhaps better note, the <\/span>SBA announced<\/u><\/span><\/a> the additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program borrowers for a total of 30 months deferment from inception on all approved COVID EIDL loans. <\/span><\/p>\n

That spells relief (and flexibility) for small business owners affected by the pandemic and the recent supply chain and inflation difficulties during a growing economic recovery.<\/span><\/p>\n

However note well: the interest is still racking up<\/i> (albeit at a very reasonable rate).<\/span><\/p>\n

But this may mean some flexibility for your Atlanta business\u2019s budget (do you even have one?<\/i>) \u2026 which is what I\u2019m talking about today. I want to take a look at some best practices around it all and how to implement them in your SMB. Let\u2019s roll\u2026<\/span><\/p>\n

Business Budget Basics Atlanta Owners Should Follow<\/strong><\/span> <\/strong><\/span>
\u201cIt\u2019s clearly a budget. It\u2019s got a lot of numbers in it.\u201d \u2013 George W. Bush<\/i><\/span><\/p>\n

Lacking a budget in your personal life is like driving without a map. In business, lacking a budget is worse than that \u2013 it\u2019s more like trying to drive at night with no map and<\/i> no headlights.<\/span><\/p>\n

So, in the interest of helping you avoid a dangerous road in your business, let\u2019s continue our series on personal versus business money management by focusing on budgets. How does making a business budget differ from a personal one and what do you need to consider when making one?<\/span><\/p>\n

Alike but different<\/strong><\/span>
Whether for your household or for your company, there are certain things that have to go into any kind of budget. You know the things that give the basic details of money coming in and going out. So you want to make sure the numbers will not only keep the lights on but keep everything running. Pretty simple.<\/span><\/p>\n

You also assemble both kinds of budgets with similar optimism: That stock for your personal portfolio is going to do well or that new piece of equipment for the business is going to produce a big ROI. And of course, you hope you\u2019re right \u2026<\/span><\/p>\n

Still, it\u2019s important to keep the two kinds of budgets separate and distinct for various reasons \u2013 not the least of which are your biz banking, your taxes, and your legal liability should money troubles arise.<\/span><\/p>\n

Let\u2019s get to work.<\/i><\/span><\/p>\n

Talking business<\/strong><\/span>
Keep some key points in mind as you build your business budget:<\/span><\/p>\n