emergency fund

When to Use an Emergency Fund?

The emergency fund should only be used for genuine emergencies that threaten the business's ability to operate. This includes situations like:
Unexpected drops in revenue
Emergency repairs or replacements
Legal issues or settlements
Natural disasters or other unforeseen events
It is important to establish clear criteria for what constitutes an emergency to prevent misuse of the fund.

Frequently asked queries:

What is an Emergency Fund?
Why is an Emergency Fund Important for Businesses?
How Much Should Be in an Emergency Fund?
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Where to Keep an Emergency Fund?
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