Budgets are an essential part of an entrepreneurship. A budget allows you to keep track of funds going in and out of your company. A budget will help you when you need to go to a bank to get a start-up loan, by showing the bank that you have a precise plan on what you need to purchase, your payroll and how you intend to pay your money back. Creating a following a budget will keep you from overspending and possibly causing you financial hardships in the future.