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What Steps are required in Budgeting for Start ups?

The Best way is Zero-Based Budgeting. Is cost saving is option during initial business phase.

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Question added by Rashid Mehmood FCCA , Finance Manager , Al Ghaith Industries
Date Posted: 2014/06/18
Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Every business will have different sets of costs depending on their industry, but generally, these six categories are a good place to start if you’re in the early stages of planning:

  1. Administrative

  2. Technology considerations

  3. Professional fees

  4. Marketing and/or sales

  5. Wages/benefits

  6. Cost of sales

 

Mubashir Shahzad
by Mubashir Shahzad , Oracle Functional Consultant/ERP Business Analyst , Jaffer Business System

in initail phase it might be necessary to inject finance into business and incurrs expesnes, so a cost saving strategy might not beneficail at the start.

 

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