I’m curious how other small business owners handle their revenue. We have a significant amount (100K+) in a business checking account that gains minimal interest. But should we be keeping it in a high interest savings account or even some of it in a CD account instead? I’m concerned about our ability to keep up with inflation, but also need to keep a certain percentage liquid as well in case of emergency. Any advice?
As a sole trader I only keep a Maximum of 20k, if there is more I put it in my own saving account…
I have no idea what most people do with money if the business does well?
If I was you, you need to know how much you need in the account for a year and maybe move the rest, I dont really see the point though…