(Entrepreneurs) — A craving for cash cushions has set many business owners scrambling for smart places to park money. Companies need a stash of cash for emergencies just as much as individuals and families do.
“Emergency cash is generally considered to be cash that you would need within six months to one year,” says Theresa Rosen, a certified financial planner with Prudence Financial in Sudbury, Mass. “The key is that it is accessible, or liquid.”
That means stocks and mutual funds are out, leaving you with safe, liquidaccounts that often don’t offer much of a return. Today’s near-rock-bottom interest rates have savers searching for alternatives.
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