Choosing the right place to keep business savings is crucial for both security and growth. Common options include:
Business Savings Accounts: These accounts offer easy access to funds and often provide interest, albeit at lower rates. Money Market Accounts: Typically offer higher interest rates than savings accounts but may require a higher minimum balance. Certificates of Deposit (CDs): Offer higher interest rates in exchange for locking in funds for a specified period. Investment Accounts: For long-term growth, businesses might consider investing in stocks, bonds, or mutual funds, though these come with higher risks.