Small-business budgeting tips for the new year from the Better Business Bureau

As 2019 begins, one of the most common resolutions people commit to is becoming more financially stable. This is true for consumers and business owners alike. For small-business owners looking to become stronger financially next year, it is critical to think about your budget now and plan ahead. Better Business Bureau Northwest + Pacific is focused on providing business development information such as this, to help owners and employees improve their bottom line. Here’s what we recommend:Pay attention to every dime. As a small-business owner, it’s common to push bookkeeping until the end of every month, or maybe even the end of every quarter. But to really understand your financials, it is important to track every dollar spent. Keep in mind, 50 percent of small businesses fail within the first five years, and 29 percent of those failures are due to lack of cash flow.