A Simple Business Budget is the Best Kind of Budget

On this blog, we’ve often stressed how important budgeting is for small businesses, and a simple business budget is probably the best because it will be used. This seemingly obvious statement is true of other many tools, whether in your garden shed or computer. If you are a small business owner or freelancer, you probably have a collection of “tools”. These may include spreadsheets, accounting software, time management apps, document management, and project management. While small business owners love software that increases efficiency, they’ll find themselves returning to some more frequently than others. Soon enough, the seldom-used tools are forgotten and you wind up with a small collection of “go-to” business aids. These are often the simplest and easiest to use. Read more

Budgeting and Survival Tips for Freelancers: A Roundup of Advice

A freelancer budgeting

Budgeting and survival tips for freelancers abound on the web. We’ve trolled freelance budgeting articles and distilled this wisdom down to 9 nuggets compiled here for your convenience. The best advice is often gained from those who have walked in your shoes. If you are a freelancer, and you are currently operating without a budget…you are not alone, but, there are many reasons to budget. Read more

Budgeting for Freelancers. An Easy Guide to Why and How

Freelancers, like all other businesses, benefit from having a budget, but many freelancers don’t take the time or understand the importance. Self-employed people are notoriously busy and frequently don’t spend time planning. Why? They see planning as an “administrative” duty – one that gets in the way of real work. “I’ll get to it when I have time”, they think to themselves, and that time never seems to come. Working on projects, the bread and butter of a freelancer’s life, seems more valuable than planning, which has less immediately tangible benefits. Read more

The Cost of Neglecting Small Business Financial Planning
– Removing Barriers to Success

Small business financial planning with Flare's budgeting tool

Given the demands on the time and financial resources of small business owners, often budgeting is an afterthought – if it’s done at all.

However, if you don’t budget or somehow monitor your business’s finances, you are putting your savings, hard work and sacrifices at risk. You are abdicating control and allowing fate to dictate outcomes like income, losses or even the continuation of your business. An apt analogy is driving in heavy traffic with your eyes closed and hoping against hope that you somehow avoid a collision. Read more