Maintain a financial overview when you start and run your business
As a self-employed person and entrepreneur, you have removed your safety net in the form of fixed income. The financial aspect will be more on your mind than it did when you have a secure income. To eliminate some of there worries, you need to have a complete overview of your finances. Setting a budget is about balancing coasts and revenue so you always have the money to pay expenses.
The financial overview must not be underestimated. If you need to take out a bank loan or have investors in connection with your company, a financial overview must be presented, both for the current year and future financial years. If you do not have the experience or the experience to do it yourself, we recommend that you contact our partners in the field.
The overview can be found not only by looking at your business account, but by knowing your existing and future income and costs.
A few good tips:
Startup Central offers three standardized budget templates that you should make use of no matter what business you run. With budget solutions, you build a simple financial understanding of your business. The more detailed you fill out your budget, the fewer unforeseen expenses will pop up.
The three templates are exclusive tools for our members so you must be a member to be able to download them.
If you are in doubt about how to fill in the template, contact our coaches in the field, they will be able to guide you through the setup, unknown factors, etc. that you may have challenges with.
The most common mistake in budgeting is too much optimism. Of course, you have to believe in your business, but it is wise to set realistic goals. Then you can always be pleasantly surprised.
Even if you use our budget templates, there may be challenges in getting them all in line with each other. You must be aware of whether the balances are correct and whether you have set aside the correct amount for SKAT, stated correctly due VAT, etc. Contact our coaches if you are in doubt.