How much cash savings does your small business need?
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- čas přidán 5. 06. 2024
- Get $100 when you fund a Relay account! To learn more, go to www.claracfo.com/relay
In this video, Hannah answer a common question: how much savings is enough for a business?
She covers factors that influence the ideal cash reserves for different businesses, including the type of industry, the stability of revenue, and operational expenses.
Learn practical tips to help you determine the right amount of savings for your unique situation, ensuring your business can weather unexpected challenges and capitalize on opportunities.
In this video you will find:
0:16 Determining Business Savings
0:39 Considerations for Savings
1:19 Sponsor: Relay
3:00 General Savings Guidelines
4:13 Factors Influencing Savings
7:00 Cash Flow Considerations
10:02 Predictability of Revenue
11:54 Setting Financial Goals
To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: claracfo.com/cfo-services/
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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Thank you Clara, you are awesome!!
❤❤❤
Hi Clara. Can I use your link from the UK as I notice prices are in $$!
What are you signing up for?
@@ClaraCFO quick books to transfer my accounts from Xero
I love your videos, this is something we have been trying to figure out. Still not quite sure, the goal has been 6 months.
Have you ever had to dip into your savings?
Occasionally for taxes but we have been able to replace it.
I'm from Angola. It's an African country. Goooood video!
@@ClaraCFO Yes for IRS taxex but we have always been able to pay it back. I would love a video on how to know what the % of profit should be for each business. I have learned to run the P&L with %, also how to know what % should be for each category. This is probably to broad. But worth asking.