Question: What’s one of the 9 practical tips to help small businesses build an emergency fund?
Answer: ‘Strive to save 10% to 30% of profits.’

“Just as you would build a personal 401(k), it’s crucial to save a portion of your profits — ideally 10% to 30% — for operational expenses. Setting aside money can help businesses establish a financial safety net that can be used for unexpected costs or navigating challenging periods. This disciplined approach to saving ensures a business remains financially stable and prepared for any unforeseen circumstances.”
– Jessica Hawthorne-Castro, Hawthorne Advertising

For the full article go to “9 practical tips to help small businesses build an emergency fund” at The Business Journals.