Do you save your business profit or re-invest it??

[Syldan]

Actually saving your money is good so also to reinvest but personally I will prefer to reinvest my income because I believe it will yield something additional to what I have than savings without income.

 

[Robust]

Well it all depends on the period we are, there are times I do try by all means to save my business profit and sometimes I do try to invest such profit and save my normal money I get out of the business.

 

[Syldan]

Actually sometimes I save and sometimes I reinvest when it's the right time to do that.
Savings of your income, should not be always because something may came up and you won't be able to help yourself.

 

[Chibson]

Actually saving your money is good so also to reinvest but personally I will prefer to reinvest my income because I believe it will yield something additional to what I have than savings without income.

Yeah, it is always important to reinvest your income. You should look for good businesses to invest certain percentage of the money you make on monthly basis. That way you will increase your chances of becoming rich in the future.

 

[Agbalagbaa]

I don't save my business earnings because I am aiming for growth and that is why I reinvest it most times, I only spend my profits on rainy days

 

[Chibson]

I don't save my business earnings because I am aiming for growth and that is why I reinvest it most times, I only spend my profits on rainy days

I think that is actually a very good idea but having some savings is always important and necessary. The savings will serve as a backup for your business in case if anything happens like the coronavirus pandemic.

 

[Agbalagbaa]

I think that is actually a very good idea but having some savings is always important and necessary. The savings will serve as a backup for your business in case if anything happens like the coronavirus pandemic.

This is true, I love your wonderful perspective.
I think I would definitely implement it in the coming months, these day cash is scarce in Nigeria and it really posed a challenge in businesses.

 

[Potuse]

This is true, I love your wonderful perspective.
I think I would definitely implement it in the coming months, these day cash is scarce in Nigeria and it really posed a challenge in businesses.

The importance of savings cannot be overemphasized because you needed to cover up some certain ground whenever there is a little hiccups or problem somewhere which you would need money to solve.

 

[Ononivami]

This is true, I love your wonderful perspective.
I think I would definitely implement it in the coming months, these day cash is scarce in Nigeria and it really posed a challenge in businesses.

I will still continue to say that it will be very difficult to save if the economy of the country is not in good shape because, you will have one or two things to carry out and you would not hesitate to withdraw from your account.

 

[Chibson]

This is true, I love your wonderful perspective.
I think I would definitely implement it in the coming months, these day cash is scarce in Nigeria and it really posed a challenge in businesses.

if cash is scarce then it will really be a very big problem for people who are doing some businesses. Except business owners and customers will decide to use internet banking.

 

[Agbalagbaa]

if cash is scarce then it will really be a very big problem for people who are doing some businesses. Except business owners and customers will decide to use internet banking.

That is the only alternative and most times, most of these commercial banks are still having glitches in their internet banking platforms these days. It's not easy.

 

[Danny4cash]

I don't think anything can make me to apply for a loan. I hope i never find myself in that situation because i realky hate borrowing. That is why i try my best to save as much as i can.

Applying for a loan is not really bad if you're sure of paying back. The problem with many people is that they borrowed when they don't have any means of paying back.

 

[Imran_Noori]

Reinvest your profits is a good idea in other to earn enough money but you have to be careful it terms of investing, you first need to know on what exactly will you be investing the money on.

You are right, before investing you should do your own researches and find best projects or businesses, if you make good decisions then you can generate profits.

 

[Immilash]

You are right, before investing you should do your own researches and find best projects or businesses, if you make good decisions then you can generate profits.

Yeah that's just it, if you are good at doing this you can be able to find the best business Ideas, it will help you a lot, making research is very important.
Reinvesting your money is a good idea, but I'll not advice to invest all that you earn, some people make this kind of mistake, they ended up in premium tear's.

 

[Chibson]

That is the only alternative and most times, most of these commercial banks are still having glitches in their internet banking platforms these days. It's not easy.

if there are glitches in network and cash is not available then that can actually create a very big problem for businesses. I think the government needs to try to solve such a problem.

 

[Potuse]

The choice to make on whether to save the profit made from business or reinvest it will depend on individual preferences because you may decide to grow the business by investing if that's your choice then you may also decide otherwise.

 

[Ononivami]

For healthy business and for development and expansion of the business, it is often better to invest the profit so that you can quickly grow and make more profit possibly.

 

[Potuse]

For healthy business and for development and expansion of the business, it is often better to invest the profit so that you can quickly grow and make more profit possibly.

If you want to expand your business and you want to make it grow very quickly, then you will need to invest to the profit so that you can increase your turn over rate very quickly.

 

[Ononivami]

If you want to expand your business and you want to make it grow very quickly, then you will need to invest to the profit so that you can increase your turn over rate very quickly.

You have a very valid point because it is important to in reinvest the profit if you have the notion to expand the business and if you also have it at the back of your mind to make more profit .

 

[Potuse]

You have a very valid point because it is important to in reinvest the profit if you have the notion to expand the business and if you also have it at the back of your mind to make more profit .

If you check the antecedents of businesses that has become a big conglomerate, you will agree with me that those businesses reinvest their profits and that was why they grow very quickly.