Budgeting and forecasting might not be the most exciting jobs on a business owner’s to-do list, but they can play a valuable role in helping you understand where your business is heading.
In the latest episode of our podcast series, ‘It all adds up: Business finance explained’, Garry Mumford and Simon Hammond are joined by Mike Johnstone (from TOMD) to explore how businesses can get more value from their budgets and forecasts.
This 20-minute, easy-listen episode looks at the difference between budgeting and forecasting, why financial plans need to be reviewed regularly, how scenario planning can help businesses prepare for change, and how good forecasting can support better decision-making.
If your budget tends to get prepared once a year and then forgotten about, this episode could give you a fresh perspective on how to make it a much more useful business tool.
