How small businesses can save money

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Elize Giese, head of investments at FNB Business. (Picture supplied).
Elize Giese, head of investments at FNB Business. (Picture supplied).

Johannesburg – In a tough economic environment, small businesses should implement a savings strategy to have enough cash flow during quieter periods.

Business owners need to understand the cyclicality of their business, said Elize Giese, head of investments at FNB Business. Business owners need to evaluate their cash flow and save accordingly.

Unlike households which often save for long-term goals like a holiday or a child’s education, businesses save for different reasons. “These include having cash flow for the daily management of a business, for capital expenditure to acquire assets and for long-term expansion in the future,” said Giese.

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