How to avoid debt as a small business (part 2)
- Riona Boodram
- Sep 30, 2022
- 1 min read
2. Revisit the budget
If debt frequently occurs in your business, it could be because you have no adhered to you original budget and need to revise a new budget for you current financial situation. Your budget should more than be able to cover your monthly costs, eg. rents, utilities etc. Thereafter, allocate finances towards production and material costs and equipment that is necessary for your business to function
An inexpensive way of managing your finances is using accounting software such as Quickbooks, PeachTree or MS Money
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