A budget will help you determine the funds you’ll need for labour materials, how much your operations will cost and what revenue is necessary to support your company. 

Drafting a business budget for your business when it’s in its early stages will help you estimate how much money you have, how much you’ll spend, and plan how much you’ll need to generate in order to stay profitable and progress.

It’s also beneficial to estimate a realistic expectation of profits and to ensure that you set the right price for the goods or service you will be selling.

On pricing, it can be tempting to undercut your competitors in order to get your ‘foot in the door’ and win new customers. How many of us have seen ‘Grand Opening Sale’ in the window of a new business? 

This is a legitimate pricing strategy, but if you choose this option, it should be used with caution and for a limited amount of time. It can be difficult to convince customers to pay more for the same product or service once they’ve gotten used to a lower price. Even though your sales figures may look great on paper, it’s your profit figures that will make the difference as to whether your business is viable in the medium to longer term.

All businesses are different, so finding the most appropriate finance option is important, to be sure it suits you and your business’s needs and terms. You’ll need to consider:

  • How much financial help you need
  • What security you’re willing to offer in terms of personal assets and if this is something you’re comfortable with
  • Whether you’d consider the option of selling shares in your company

Look at Finance and Funding your business for more information about business finance options.


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Meet the team

Chris George<br />
Growth Hub Manager

Chris George

Growth Hub Manager

Chris is an experienced professional with over 30 years knowledge and experience in sales and marketing in the public sector along with 15 years working for two mainstream automotive manufacturers in the sub 10,000 fleet. Delivered sustainable change in a vast range of industries, whilst constantly updating and developing core competencies and knowledge.

Working in the Local Authority sector for the last 15 years has resulted in Chris turning around failing territories to becoming some of the best performing areas in the country, with excellent stakeholder engagement and a passion for premium delivery. Outside of work, Chris is a keen gardener, and also likes property restoration and reading.

Ashleigh Jackson<br />
Growth Hub Business Advisor

Ashleigh Jackson

Growth Hub Business Advisor

A proven senior influencer and sales professional with more than 25 years’ experience in brand building and driving category growth within the private sector.

“I have a strong research background, alongside vast experience in sponsorship and corporate events management.

My work has initiated good working partnerships with many Local Authorities across Hertfordshire, Essex, Cambridgeshire and London. I have also worked with many multi-national brands including KPMG, Barclays, EasyJet, Kingston Smith LLP, London Stansted Airport, Morgan Sindall and Heineken. I’m proud to be able to enhance on the work we do here at the CPCA Growth Hub and build on many success stories.

Away from the business, health and fitness is important to me, being in the great outdoors, and enjoying fun times and relaxation with family and friends”.

Stuart Thomas<br />
Growth Hub Business Advisor

Stuart Thomas

Growth Hub Business Advisor

Stuart is a former small business owner and former Business Link Advisor and has also worked as a project manager for an international IT company, overseeing a large number of IT projects for large corporate enterprises, as well as large public sector organisations.

Stuart has served as a director for an international timber trading company and has also been a director of a local independent radio station, where he mentored a number of new staff. Prior to this he spent time as a secondary school teacher, teaching IT and business studies at both GCSE and A level.

Liana Sannah Growth Hub Business Analyst

Liana Sannah

Growth Hub Business Analyst

Liana is an experienced professional with over 15 years’ experience as an Executive Assistant. Liana has previously been employed by Warner bros, Daily Mirror, Aviva and AXA. These roles have given her a wide range of skills and in a vast range of industries.

Liana has been working in the Local Authority sector for almost three years, as a Growth hub advisor and producing the Monthly BEIS report. In her leisure time, Liana enjoys cooking, interior design and watching movies.