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

[Good-Person]

Having cash reserves is quite important for any kind of business. However, there are many people who end up investing the total amount and they end up suffering.

 

[kinqzbitz]

As a very good business minded person you should at least always prepare for anything and for the worst that could happen because it makes things more easier when you prepare

 

[Heatman]

You are absolutely right. In fact, we should be planning alternative route whilst we plan our business ideas. Good plans may not work out for some reasons sometimes, hereby we need to have plan b

It is always very good for you to have a back-up plan especially when you are into a business because when your business plan doesn't go as you wanted to you should have something to fall back on and begin again.

 

[Adecyptii]

You are correct by saying that,as a business owner it is advisable to be saving some amount of money so that when the business is setting back,that money you saved can enhance you arrange everything appropriately.

 

[Abigael]

You are correct by saying that,as a business owner it is advisable to be saving some amount of money so that when the business is setting back,that money you saved can enhance you arrange everything appropriately.

That is the most important thing about saving. Whenever you face any financial troubles, you will have something to redeem you. Therefore, it is best to adopt a savings culture as soon as you start making profits.

 

[Immilash1]

You are very right. But right now I don't owned a business but if I owned one it will be a mandate to save for shambles time, this a great idea.

 

[Adecyptii]

That is the most important thing about saving. Whenever you face any financial troubles, you will have something to redeem you. Therefore, it is best to adopt a savings culture as soon as you start making profits.

You are right my dear😊,that is the only way forward to achieve the best in your business,but do you run any business,and how have you been coping with it.

 

[ganibade]

Do you have reserve savings for your business when it goes shambles. This can be achieved when you keep some money some where for future use. You can save the money in bank or inform of digital currency and save it on a platform.

 

[Ghost1]

I went to a seminar and the speaker said something that touched me. He advised we never touch our profit but instead keep it as reserve, only get things you really need. The reserve money could rescue the business tomorrow

 

[Sincerem]

I went to a seminar and the speaker said something that touched me. He advised we never touch our profit but instead keep it as reserve, only get things you really need. The reserve money could rescue the business tomorrow

Nice one. It is very important for us to know when to make use of the profits of our business , we should not spend it
unnecessary. A lot of people could really invested in the business but I only advise this when it is absolutely necessary, is from the profit that can be used to pay employees and taking of personal share

 

[Setho]

I know that things can be able to go very ugly in business at a very quick period of time and that is why I always try to keep some kind of emergency fund in case that should happen.

 

[glitch]

I know someone who wanted to start up his own business when he was 20 years old. Instead, he went to community college for a few years and got a few degrees first. He said that if his businesses failed, he would have that to fall back on. His business did really well but in 2020, it went under like many other businesses and he was able to find work to continue to support him and his family thanks to having those degrees and training in his back pocket.

 

[Smiles20]

There is an emergency savings account that I have open for every aspect of my business and I tried to keep a certain percentage there in terms of the rainy day.

 

[Shigobad20201]

A good business entrepreneur, if you are doing a business , you must have a good business plan which must included having a reserve fund that will help the business when in trouble.

 

[Kvngsammy]

Though I haven't established my business yet but I've discovered it's key to always save for the rainy day which I'm currently practicing while still an employee because I have to build good habits from now.

 

[tyrim88]

It is a good and beneficial idea to set aside money for any unforseen circumstances in a business. It could happen at anytime and what do you do? Get a loan?, not at all because you'll be indebted and your business may crumble, so make hay whilst the sun shine in order to avoid the saying ' had I known'.

One thing about running a business is that beyoung having the tecnical expartise and the funds and the understanding of the market as well as the customer aqusition strategy,the issue of business savings and investment is very important.

 

[joy101]

Capital reservation is needed to sustain our business when it goes shambles. We shouldn't just squander all our business profit, we should reserve some, in terms of emergencies.

It is good to have reserved savings for the future in case your business is facing money challenge, you can from the savings to rise good money in order to help the business, as a business man it's very good to have a reserved savings.

 

[Shigobad20201]

As a good and sensible entrepreneur , you must always be having a reserve fund for your business incase of unforseen circumstances that might happen in the future , so you can just use your reserve fund to build up the business

 

[Chibson]

Reserve savings is always very important and necessary in any business venture. If you have it you'll be able to manage any kind of crisis that comes up in your business that requires money.