As a small to midsize business leader, you’re probably already thinking about how to allocate the annual budget for 2024, dividing funds between marketing, operations, sales, logistics, IT, and more. IT is one of the most critical and vital functions of a modern small business, improving operational efficiency, performance, and more. For many small to midsize businesses, a specified IT budget gives them room to scale operations, enhance cybersecurity, and dedicate resources to innovation. Let’s discuss how to develop an IT budget, how to track and manage it, and how to ensure it fits within your company’s overall financial goals.