IT’S BECOME SO much easier to start a business on a budget and keep finances in check by keeping overheads low. This chapter shows how to manage your finances, as well as offering a simple way to calculate profit through use of a basic spreadsheet.
When running a business you’ll want to be sure earnings are higher than outgoings.
Earnings are also referred to as revenue, turnover or income and this should be a greater figure than outgoings, overheads or costs. Let’s look at the items that come within each category.
Earn from selling your product or service and any associated income opportunities. For example, you set up a business selling unique handmade cushions. From ...