It's no secret that disasters happen even in business. But are you ready for it? How much money do you need in your emergency savings (Rainy day fund) to help you in the case of those moments? This question is the question we are going to tackle today. First, we need to determine what your current monthly expense is in your small business. If you use a bookkeeping software, this will be pretty easy to do. Print out last years, Profit and Loss report (P&L) and categorize it by month. As … [Read more...]