6/20/2023 0 Comments Budget truckingThough you want to be as accurate as possible, it helps to err on the conservative side. If you’re just starting out, you can get an idea by talking to other trucking business owners or tapping into industry research. The best way to project your revenue for the year ahead is to base it on your figures from the previous year. This number should be the first line on your budget, and it serves as the cornerstone for everything else. You can pull this information from your profit and loss statement. Start your budget by understanding your revenue and sales. ![]() ![]() Here’s how you can create a small business budget that drives your business forward. Though a budget takes effort and forethought, budgeting can ultimately boost your bottom line. Furthermore, budgeting gives you a sense of control over your money, informing you on how to spend your revenue to maximize profits. You can use your budget to identify the revenue necessary to support the business and to make a realistic estimate of your expected profits. Comparing your expenses to your income will shed light on the health of your business and whether you’re operating at a profit or a loss. ![]() Along with your business plan, a budget is one of your most important tools for managing your company. The start of the year is the perfect time to create a small business budget for your trucking, tow truck, or transportation company.
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