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Inem
InemKnowledge Seeker
Asked: September 13, 2023In:

One of the challenges that we small business owners face is how to seperate business funds from personal funds so we don’t spend business funds for personal use. We are the bosses and call the shot. But what measures can a ...Read more

One of the challenges that we small business owners face is how to seperate business funds from personal funds so we don’t spend business funds for personal use.

We are the bosses and call the shot. But what measures can a small business owner take to make sure he doesn’t encroach into business funds for personal use.

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business fundspersonal funds.
  1. Mika
    Mika Expert Mind

    The best way to manage business funds and personal funds is by having a business bank account and personal bank account. You then keep your personal funds on personal bank account and use this account to send and receive personal funds as well as make personal purchase. Keep your business funds in bRead more

    The best way to manage business funds and personal funds is by having a business bank account and personal bank account. You then keep your personal funds on personal bank account and use this account to send and receive personal funds as well as make personal purchase. Keep your business funds in business bank account and use business bank account to pay for business related purchases or expenses

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Mike Smith
Mike SmithKnowledge Seeker
Asked: September 22, 2023In:

Personally I believe that it is only when it is crucial that it is allowed for a business owner or business manager to reinvest business revenue. Because the whole idea of business revenue is that it must be separated from ...Read more

Personally I believe that it is only when it is crucial that it is allowed for a business owner or business manager to reinvest business revenue. Because the whole idea of business revenue is that it must be separated from the business after sales or rendering of the business goods and services are being carried out. Anyways what do you think?

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business fundsbusiness reinvestment
  1. Ramolak19
    Ramolak19 Knowledge Seeker

    kudos to you all, Your financial objectives and risk tolerance, among other things, will influence how much money you should put into your company. To support growth and development, it's typically advised to reinvest a portion of your income in your company. A standard recommendation is between 10Read more

    kudos to you all, Your financial objectives and risk tolerance, among other things, will influence how much money you should put into your company. To support growth and development, it’s typically advised to reinvest a portion of your income in your company.

    A standard recommendation is between 10 and 20 percent of your revenue, though the exact number can vary. In the end, it’s critical to balance reinvesting for growth with preserving financial stability.

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