11 Small Business Budgeting Tips

Small business owners are no strangers to cash flow problems. Money is notoriously tight, and conserving wherever possible could mean the difference between staying in business and joining the50 percent of small businesses that go out of business within five years of opening their doors (PDF).

While many small business owners have a budget, most don’t know how to maximize this resource. Successful small business budgeting begins by identifying profit margins, and then wisely allocating expenses where you need them most.

If you struggle with instituting a budget or you simply need a quick refresher, these 11 small business budgeting tips can help you get