Budgeting and forecasting are common processes for a successful business. They are often linked together but they're different. Budgeting is usually looking a year ahead with more accurate plan whereas forecasting looks further ahead and may be more hypothetical.

 

Cashflow

Cash is the lifeblood of any business and having cash surplus to meet business needs is core to survivor.  Better planning on cash flow and accurate forecasting helps businesses thrive even in worse economic outlet. Ensuring your business is prepared for the future and is built on a solid foundation is essential for success. Accurate and regular financial forecasting is essential for protecting your business from potential cash shortfall, whilst maximising your chances of securing funding when you need it.