Emergency funds, a must for business owners

[Fire&Rain]

Running a business comes with surprises, slow sales, equipment repairs, or unexpected market changes. Having an emergency fund specifically for your business can keep operations running smoothly during tough times. Some owners keep 3 to 6 months of expenses in reserve, while others aim higher. How do you manage your business safety net? Any tips for keeping it accessible yet protected?

 

[Starmix]

Indeed, it's essential for business owners to have an emergency fund. Apart from that the business must be insured against fire and robbery. In my business, I save for emergency an fund.

 

[Suba]

Every business owner needs to allocate a portion of their profits to an emergency fund, equivalent to about six months of monthly operating expenses. Personally, I keep my business emergency fund in a USD stablecoin, which is easily accessible and liquid.

 

[Augusta]

Yes, emergency fund is a must-have for any small business owner., an emergency fund provides a cushion and confidence in uncertain times.

 

[Trush Jodie]

Just like one needs emergency funds to cushion urgent negative situations in life, businesses also need to have austerity measures to tackle negative situations.

 

[Springtime]

Yes, it is important for a business to have emergency fund. Sales fluctuates, bad debts, poor economy may all affect the business's cashflow. During this difficult time, a business cannot survive without emergency fund.