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Budgeting for your B&B business

publication date: May 12, 2012
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This sounds a boring subject, but it is vital to do this carefully right from the start: it concentrates your mind on the hard economics, and tells you what the potential rewards are and the occupancy you need to achieve them.  Your budget will become your main financial management tool.

You might be tempted to yawn at the idea of budgeting, but a vast number of small businesses fail because they got this basic element wrong.

Again, as with Business Plans, the “Business and Management” shelves in every bookshop are groaning with fat volumes on budgeting.  

We will try to cut through to the bare essentials of budgeting which you will require in taking your own decision about your own property, without outside investors...

 



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