Since we are starting a business, we need to create a budget for it. According to Joseph Benoit; a business banking executive for Union Bank N.A. “the importance of having a budget cannot be overstated. Creating a budget for your business will provide a guideline for expected income and expenses and enable you to compare your anticipated financial goals with the actual numbers.” (Benoit) So creating a budget is very important for a new business in order for to be successful and continue operating in the future. Our goal in this project consists of several departments combined to make a small profitable business. Our business is a clothing business; making cloths and selling them. Every department records expenses and generates revenues, so we need to keep track of financials, but first we need to make a budget for our small business.
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