CEO Dankotuwa Porcelain provides perspective on budgets for businesses and personal growth

The Lions Club Colombo Host District 306A1 recently concluded the fifth session of the Money Matters webinar series – ‘Money Matters 1.4 – Where Does My Money Go? – Personal Money Management Tips & Tricks!’. The webinar series is part of the Lions Club’s continues efforts to optimize financial knowledge and inclusion in Sri Lanka.

The session was facilitated by Channa Gunawardana, Chief Executive Officer of Dankotuwa Porcelain PLC who provided an insightful look into the importance of budgets for business and personal growth. The session was moderated by Certified Expert in Financial Inclusion and Lions Club Colombo Host 306A1 (2021-22) President, Asitha Pinnaduwa.

Gunawardana went on to talk about importance of budgets in large corporations, SMEs and for personal growth. He went on to discuss how crucial a budget is in terms of establishing a proper direction for businesses. He also went also stated that the use of the budget is more important that the actual availability of one.

Gunawardana went on to speak about the elements required to create a budget such as the necessity to involve all stakeholders and the constant need to compare actual figures against the budget. He also explained that every operational cost must be considered, and an in-depth knowledge of the market is paramount to formulating a budget. He went on to explain that planning for the future is also of great importance when creating a budget. Further to this, Gunawardana explained that budgets are also important for personal growth and the importance of knowing exactly what the result is, what avenues of income are available to enhance and complement that growth.