Is a Business Emergency Fund Important?

[Suba]

Emergency funds can be used for any purpose, especially when business people encounter financial trouble. Although emergency funds act as reserve funds, when business is not running smoothly, business emergency funds can help cover operational costs and business continuity. So from the first time we open a business, we must set aside part of the profit for a business emergency fund. Ideally, the amount of a business emergency fund is six times the monthly expenses, so in your opinion, is a business emergency fund important?

 

[King Belieal]

A business emergency fund is very important for any business that would want to always take advantage of opportunities.

 

[Suba]

If an emergency fund is very important, then every business person should save or allocate part of their profits to become an emergency fund reserve, so that when needed they will have funds that can be used to improve business performance.

 

[Stardom22]

Business investment funds should really be encouraged to most of the businessmen because it's through the fund that can salvage the business in times when the business is down.

 

[Springtime]

Every business should have an emergency fund or reserve fund. When the business is in financial trouble or come across a good opportunity, the business can use the fund.

 

[eLdavis]

Yes having an emergency fund for your business is extremely important, then again you don't just need one for your business, but even for personal use, you need to keep something for emergency use.

 

[Starmix]

It is essential to have an emergency fund. A business can use that fund when there is an employee needing a financial help. The cause might be robbery, fire, or flood. It's essential also for everyone.

 

[Augusta]

Emergency funds are very important. As it would help you or help you with needs that you don't plan for and also help you stay out of debts

 

[Starmix]

An emergency fund big or small is vital. It can solve an immediate financial problem at any time in the day. Having no emergency fund is crucial for the family. It's best to use the right disposition.

 

[Kera]

Businesses have some sort of emergencies which they can utilize their emergency funds to handle while processing insurance claims.

 

[Augusta]

You just have to make sure you have reserved cash for the unexpected. Anything can come up that needs financial help to aid in making it work