Budgets

Step 11: Budgets

 

 

For grants, funding or loans, the most important documentation will be your projected budget with its breakdown of estimated income and expenditure. It is also very important to write up a complete budget so that you can see what is required for your enterprise to be financially viable.

It is advisable to complete a three year projected Income & Expenditure projection for the proposed project as a minimum to enable you to gauge the feasibility of the venture long term, and a three year projection will often be required for grant applications and other funding organizations.

 

Income and Expenditure


Income is likely to be made up of the fees and any grants or funding you receive.

Expenditure might be broken down into the following headings:

  • Set up costs – fixtures and fittings, telephone
  • Salaries - including any cleaning or cooking done
  • Insurance - building, contents, employees
  • Recruitment costs - advertising
  • Premises - rent, bills
  • Furniture and equipment - from desks to soap
  • Administration costs – stationery, payroll software
  • Marketing costs – signage, Golden Pages
  • Outings and festivities – transportation, materials
  • Staff – uniforms, team building events, training

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For advice on producing a sound budget, you should contact:

 

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