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Why should every business have a reserve account?
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[QUOTE="Fecoms, post: 334431, member: 1"] Because it offers a financial safety net in the event of unforeseen circumstances or emergencies, a reserve account is something that every business ought to have. It provides assistance to businesses in covering unforeseen costs, such as repairs to equipment, compensation for legal fees, or sudden drops in revenue. In addition, having a reserve account not only gives stakeholders the ability to maintain stability and continuity in the face of economic downturns or market fluctuations, but it also gives stakeholders the confidence to have confidence in the company. [/QUOTE]
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Why should every business have a reserve account?
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