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Start Up Budget
When it comes to start up funding for your business, most of it is provided through personal funding. Before you can seek funding from financial institutions or investors, there are several things that need to be accomplished. Contact us today to find out what you need.
Most start up funding packages can range from $25K to $100K, depending on the industry of choice. The most important part about business start up funding is that you have a financial plan in place to service the debt of the funding. Therefore, some of your start up funding should include some type of investment that will give the business a healthy return. This will allow your business a chance to operate and reach its full potential.
The operating budgets include the budgets for sales, manufacturing costs (materials, labor, and overhead) or merchandise purchases, selling expenses, and general and administrative expenses.
Direct Labor Budget
The direct labor budget shows the number of direct labor hours and the cost of the labor to determine the total cost of direct labor.
Manufacturing Overhead Budget
The manufacturing overhead budget identifies the expected variable and fixed overhead costs for the year (or other period) being budgeted.
The General and Administrative Expenses Budget
Details the variable and fixed operating expenses for the general and administrative areas of the company.
The sales budget is the starting point in putting together a comprehensive budget for a business. It includes the number of units to be sold and the selling price per unit. It is important to agree to the sales budget first because many other budgets are based on this data. Although its components are simple, getting a management team to agree on the number of units to be sold and the selling price per unit, the two items needed to prepare the budget, is often difficult and time‐ consuming.
The production budget shows the number of units that must be produced. To budget for annual production, three things must be known: the number of units to be sold, the required level of inventory at the end of the year, and the number of units, if any, in the beginning inventory. If quarterly budgets are required, this same information is needed on a quarterly basis.
Direct Materials Budget
The direct materials budget determines the number of units of raw materials to be purchased. It uses the number of units to be produced from the production budget, the required level of ending inventory for raw materials, and the number of units in beginning inventory. Once the number of units to be purchased is determined, it is multiplied by the cost per unit to determine the budgeted amount for raw materials purchases.
START UP / OPERATION / SUSTAINABILITY
$250.00 FOR ALL