I’m doing this budget for a small bookkeeping company call Innovative Bookkeeping Service LLC. There will be a business loan of $30,000 to start the business and regular fixed costs. There will be no raw material, packaging, etc. because it is a service business only. Total projected yearly income will $50,000 the first year. It will be an LLC.
There is a paper and a worksheet due.
In this assignment, you will identify basic costs and revenue projections for a business budget. The goal is simply to identify these items since you will be completing more detailed financial projections, cash flow statements, and budgets in FIN/375 Financial Management in the Small Business.
Write a 350- to 525-word paper in which you identify and describe estimated costs and revenue projections for your product(s)/service(s), and include the following:
- Sources of funding or revenue (e.g. bank loan, investments, expected sales)
- Fixed costs (e.g. a physical business location or warehouse lease, utilities, transportation, security, insurance, technology, equipment or tools)
- Variable expenses (e.g. raw materials, packaging, personnel, shipping, marketing)
- One-time purchases (if any)
- Total projected income
Create a business budget spreadsheet and include your projected revenue, costs, and totals.