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Scotland > Your Budget > Business Budget > Why Create a Business Budget?

Why Create a Business Budget?

Working out a business budget will help you to:

see how much money is coming in to the business;
see how much money is going out on business costs;
work out roughly how much tax and VAT you will have to pay, which should be put aside so that you can afford to pay the demands when they fall due. See the Tax/VAT fact sheet for more information about this;
plan your household budget on what you can really afford to draw from the business each month, while ensuring that you have enough money to cover essential living costs;
work out how much you have to pay all your creditors and the courts;
plan your future spending on the business and your home.

This section will help you to collect the facts you need to fill the budget sheet in completely and accurately.