The idea of business saving

[Carpon]

Business saving is a concept I coined and it is the situation where businesses save from their profit. It is a condition where a business and it's runner(s) agree to be saving from the business' funds in the name of the business.

I see this as something good and important because;

✓ Businesses too face uncertainties and conditions when they will be in need of emergency funds. When a plan has already been made and savings was done from the business funds, that will become an emergency fund in times of need.

✓ Business saving is like saving for it's owners. The runner(s) of a business gets to benefit from the saving as well for example when they decide to share the saving to their workers in times of need such as inflation periods, or times of festivities when the amounts needed to run things may be a bit higher.

This is something many businesses are into and it is really being beneficial to them. What is your view about this concept?

 

[Augusta]

The whole idea of saving works for everybody and everything whether a business or a service you will have to save money to be able to run the business effectively and efficiently

just like you a human life that one day you can need so much money to sort out unexpected issues same can happen to a business. you can encounter as a business owner unexpected financial issues that will need urgently done at that time you might not be able to borrow money if you don't have the cash with you to execute the project but if the business had had some savings then it will be easy to be trust on money to sort the financial problem so this is one essence of having savings for even a business because as life is unpredictable anything can happen so business owners should saved from the profit or revenue that is made from the. business.

 

[Yusra3]

Businesses are businesses. That means they want to make money, but they also want to save money. The idea of business saving is that you can use accounting methods to make sure that you're tracking your expenses and revenues in a way that helps you keep track of your costs and boosts your bottom line.

Think of it like this: if you're running a business, then there's only one thing you should be worried about how much money do I have left after all my bills are paid? If you know how much money is going out each month, then it's easy to see where the extra cash is going. And if it's not going into the right places, then maybe you need to look at what else is going on with your business and make sure that it's working properly before diving head first into another project.