Make Sure Your Business has an Umbrella for a Rainy Day
by Carrie Hinkel on March 11th, 2008
Most business owners don’t feel the need to have a “rainy day” or “emergency” fund until business is slow or an unexpected expense is incurred. Instead of having to scramble over some “fast cash” for the business, why not slowly build up a savings account that holds several months worth of operating cash? Even if your business is a start-up and you feel that every dollar is already spent before it’s earned, having a “rainy day fund” is a good idea – and you don’t need a lot of cash to start. If money is tight, set a goal to... Read more »