The Marketing Research of

Budgeting Skills of Business

Owners
 MEMBERS

Aileen Abella
Charleen Lucas
Faith Taguan
Dana Esmeralda
Danie Dulay
Jonegio Maltezo
Ylaydia Hernaez
Table of Contents
executive summary ...................................... 3
objective ............................................ 6
specifically .......................................... 7
Disadvantages ........................................ 8
Findings.................................................... 9
Conclusion ...................................... 11
Recommendation ..................................... 12
 * Budgeting aims to help you make the most of your money by making sure you spend your money on
the things necessary to you. Budgeting can also help you plan for unexpected expenses and save for the
future.Improved Financial Control: Budgeting provides a way to manage your finances more effectively.It
gives you greater control over your finances and allows you to make better decisions regarding your
money.Helps You Reach Financial Goals:You can create a plan to reach your financial goals by monitoring
and tracking your spending.Builds Financial Discipline:It requires you to be aware of your spending habits
and actively manage your finances.Increased Savings: By budgeting for specific expenses and saving money,
you can improve your overall protection and build a solid financial foundation.
 More than half of small businesses with a budget (54%) say that their 2021 budget will be larger than their 2020
budget.

Experts say that an improving business environment will fuel spending in 2021.

"It's all about positioning for the next boom," said Alina Clark, growth manager and co-founder of CocoDoc, a
software development company. "A large number of businesses are planning for bigger budgets ahead of the expected
post COVID-19 resurgence."

The improving economy may boost business spending, but experts warn that a budget's purpose is to make sure that
increased spending is tied to specific, realistic goals that fuel profitability.
 OBJECTIVES
A budget in the most simple terms is a financial plan that plans all the resources of the business. The purpose of putting
budgets together, essentially, is to plan all these resources towards an objective.This is essentially what the business wants
to achieve over a sustained period of time.A budget lets a manager know what it is that hs/she is responsible for and it also
gives him/her an idea of what it is in the business that he/she has control over. So a budget sends a signal to a manager or a
budget holder as to what it is that they're accountable for and that they have control over.Budgets make evaluating a
manager’s performance a little bit easier, because we can look at the budget versus the actual results on a periodic basis.
This gives us an idea of how to perform an evaluation over a division or it could be a manager’s individual performance. So
it's a tool that we can use to ascertain how well a division or a business unit or a particular manager is doing and so it acts
as a performance evaluation tool.
 specifically

1. To determine the budgeting skills of business owners .

2. To gain knowledge about budgeting skills of business owners.

 DISADVANTAGES
if targets are unrealistic, employees could become stressed and under pressure. creating and monitoring a budget can be
time consuming. More than half of small businesses (54%) have a documented budget for 2021, according to a new report
from Clutch, the leading B2B research and reviews firm. More than half of small businesses with a budget (54%) say that
their 2021 budget will be larger than their 2020 budget.

Experts say that an improving business environment will fuel spending in 2021.

"It's all about positioning for the next boom," said Alina Clark, growth manager and co-founder of CocoDoc, a software
development company. "A large number of businesses are planning for bigger budgets ahead of the expected post COVID-
19 resurgence."

The improving economy may boost business spending, but experts warn that a budget's purpose is to make sure that
increased spending is tied to specific, realistic goals that fuel profitability.
 V. MAJOR FINDINGS

1. Profile of the respondents

Age
Sex
 Key findings

Small business owners are doing well and are optimitic about the future.

Most small business owner in the survey rated current economic condition
highly (76%) (dat not shown). Their businessman are doing well -85 percent
described them as excellent or good. The lager the business, the more likely
owners were to report good conditions and political outlook for the next year
 Conclusion
Budgeting is an essential tool for any business. It helps in ensuring
proper resource allocation and meeting financial goals. However,
budgeting can be time-consuming and may need to be more accurate.
Additionally, the budgeting process can be subject to human error and
political interference. For these reasons, it is essential to weigh the
advantages and disadvantages of budgeting before deciding on whether
or not to use it.
 VII. RECOMMENDATIONS

Future business owners should try to discover budgeting skills

and knowledge that can help to achieve business goals
efficiently and fulfill managing roles with success.