Cash reserve is used during when transaction needs to take place physically and the supplier is taking cash as a means of payment. It is also useful in case of emergency in business. It is used for petty expenses.
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Yeah, there are also some business people that made a lot of money during the Corona virus pandemic. A typical example is Elon Musk who became the richest man as of that time.
I don't think I need anyone will be able to do well with his business if he does not have a back up plan. It is truly not a must but you just need to have one. Anything can happen at anytime.It's always good to have a backup in case of emergencies. If you don't have backup funds, or any backup in case of problems, than you're bound to run into problems sooner or later.
Companies that produces health products actually made a lot of money during the Corona virus pandemic. Companies that sells sanitizers also made a lot of money.The health companies were making a lots of money. There were many soap manufacturing companies as well that made tons of money because people were buying huge amount of soaps.
Exactly, cash reserve is very important for business. As a business owner, some uncertainties may come your way which requires the use of cash. Though, currently many don't have interest in having cash with them, I still believe cash reserve is important for business.Actually having a cash reserve for your business, is more like having a save for you business income which can enable you to be able to meet up with uncertainties that may comes your way.
It's very important to all form of business including families.
There can be an emergency in business anytime and some other important things that you need to sort with cash. This highlights the importance of having a cash reserve as a business owner. If you have a cash reserve, there are some opportunity you'll enjoy.A cash reserve for a business is also called reserve fund which you have specially in case anything happens , a cash reserve is what you used to revive your business when having problem .
cases of emergencies are majorly the reason people need cash reserves for their business ventures. without cash reserve it will be difficult for your business to maintain stability on the long run.There can be an emergency in business anytime and some other important things that you need to sort with cash. This highlights the importance of having a cash reserve as a business owner. If you have a cash reserve, there are some opportunity you'll enjoy.
I think another alternative for cash reserve is going into insurance. When you have insurance for your business it will serve as a backup if there is any unforeseen circumstances.A cash reserve is the reserve fund you have for your business that you don't touch , its been for the unexpected event that might happen to the business , Which might require money .