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PPC budget for any business depends on goals of advertising. It can be changed time to time. To estimate an accurate budget for PPC is not an easy task. You need to create a framework to work on PPC budget. Setting actionable, quantitative goals with a timeline for your PPC spend is a must. Use a S.M.A.R.T. framework to get this off the ground. Specific, Measurable, Achievable, Relevant and Time-bound.
If we talk about goals then it depends on various aspects or in a different ways. Your goal of advertising may be for lead generation, brand awareness or may be for generating more revenue. To set the goal is crucial but most important thing in setting budget for PPC campaign.