Do you have reserve savings for your business when it goes shambles?

[Richard92]

Hmm.... that's true!!! I never thought of it anyways because the business as of today still gives good profit. But who knows what will happen anything which i don't pray for could happen but one need to be prepare for it.....

Yes I always have result for my business in case my business shambles because that reserve will help you to rise again that is another back up plan so every business.

 

[Jlife]

I do not have such arrangement for now because i do not yet start a business, but when I have a business I'll make sure that I put in place everything that will make my business to be in good condition.

 

[Grandeur]

Life itself comes with sudden unexpected changes so also business which is why I plan for alternatives in my business venture before I choose to start.

 

[Ub40]

Every business has one risk or another associated with it so one can not rule out the possibility of failure. So one has to prepare for it paraventure it happens. The reserved money will now be used to go on untill the business regain it position once again. If not the business may fail to exist. That is my opinion.

 

[Chibson]

It's very important for people to reserve savings for their business because a time of financial crisis may arise, the Corona virus pandemic is an example.

 

[Yusuf1]

Yes i have savings to sve my business in any crisis and that is why I really don't re invest all my profit. I use part of it to maintain myself and I save the rest incase of any unforeseen circumstances

 

[Josan]

Yes I personally do, I keep saying that it is important for one to do savings if you have a job or if you're self employed. By doing that it saves as back for your already established business.

 

[Solutionav]

Lots of people makes plans for only their business welfare and profitability. But they don't think way forward if the business face financial redundancy, how will they stand it. Thinking about exit business plan is ideal, we should always have alternative to care for our business when it isn't moving in the right direction due to redundancy caused by unforseen circumstances.

Do you have savings to stand your business when unforseen circumstances hit it hard? Or you have alternative to raise recovery funds for your business??

I love this question, most business men don't think of unforeseen circumstances that may hit them so they just enjoy the profit forgetting the fact that they need to save

 

[Senator]

It is a very wise move to always have such type of backup funds for your business that will help you survive any misfutune that might likely occur in the foreseeable future In the business

 

[Blessedsam60]

Thanks for bringing up this discussion. This is a reasonable discussion. Many people doesn't plan for reserved when it comes to earning or business

 

[Setho]

I am going to use this thread specifically as an eye-opener. This is because I did not make any prior arrangement for any fund that is going to take me out of trouble if my business should go south.

 

[Immilash]

Lots of people makes plans for only their business welfare and profitability. But they don't think way forward if the business face financial redundancy, how will they stand it. Thinking about exit business plan is ideal, we should always have alternative to care for our business when it isn't moving in the right direction due to redundancy caused by unforseen circumstances.

Do you have savings to stand your business when unforseen circumstances hit it hard? Or you have alternative to raise recovery funds for your business??

as a business owner you have to save your money,not only for saving sake but with the intentions to fixe some things which are not going well as you wanted it to be ,saving money us very important

 

[Shigobad20201]

The best thing for a good and sensible business man is to also think about the future, even if nothing bad will happen to the busie ss, he/she must have a reserve fund justin case of emergency.

 

[Ralphjoe]

Lots of people makes plans for only their business welfare and profitability. But they don't think way forward if the business face financial redundancy, how will they stand it. Thinking about exit business plan is ideal, we should always have alternative to care for our business when it isn't moving in the right direction due to redundancy caused by unforseen circumstances.

Do you have savings to stand your business when unforseen circumstances hit it hard? Or you have alternative to raise recovery funds for your business??

I believe any business that want to become successful and want to maintain a substance for a very long time should probably have an account whereby it is maintaining shouldn't case the business goes South.

 

[Sincerem]

I believe any business that want to become successful and want to maintain a substance for a very long time should probably have an account whereby it is maintaining shouldn't case the business goes South.

Yeah, having account for better alternatives will always stand your business when challenges occur especially in the case of uncharacterized financial loss.

 

[Ralphjoe]

Yeah, having account for better alternatives will always stand your business when challenges occur especially in the case of uncharacterized financial loss.

Business is a very serious activity that we all should endeavour to take take very seriously as it is the sole activities that we can do to be making which amount of money from rendering heathen services or products to people.

 

[Jhayms07]

I don't have a business presently but I think this is a challenge many businesses face and some of them actually go to the ground when there is a shake because there was no solid plan or backup

 

[Josan]

Yes I have a reserve savings for my business, I do that intentionally knowing too well that there are times business goes shamble and one needs to fall back at something. Yeah.

 

[Kelly5]

This is one reason why planning is an aspect you can't just do without. Having a reserve backup fund for such incident or occurense is a way to give the business another shot at success again

 

[Ralphjoe]

This is one reason why planning is an aspect you can't just do without. Having a reserve backup fund for such incident or occurense is a way to give the business another shot at success again

I have never been able to have a good savings or reserve for my daily life as it concerns my finances but I'm starting to see the reasons and needs for it and I am definitely going for it.