Many closely held businesses are seeing significant increases in revenue despite slow overall economic growth. With those increases, pressure can be created on people and systems to the point where you’re confronted with finding quality people and investing in systems to support your growth. Those investments of people and systems may have come at significant cost. So, how do you construct your budget and incorporate some changes in it to improve operational efficiency and effectiveness.
It’s that time of year again when we begin to close the books on the year and look ahead to what the new year might bring. The assumptions you use are critical to your profit and loss and balance sheet forecasts. This is especially true if you will use these projections to attempt to obtain financing or attract an investor.