By Rob Basso on
7/11/2011 12:20 PM
A recently published study has found that most Americans are not financially prepared for an emergency. Bankrate.com reports that a mere 24% of consumers have the recommended financial cushion of six months’ expenses set aside. What’s more: 24% of Americans have no emergency savings whatsoever. Financial experts are slightly surprised by these results, given the high rates of joblessness and unemployment that ravaged our society from 2007-2009. However, the recent challenges have made it more difficult for Americans to conserve money for unexpected expenses. As the light at the end of the economic tunnel starts to peek through, I wonder what this information means for small businesses. Many businesses were forced to downsize or shut their doors altogether during the recent slowing (some might even say halting) of our economy. Is your business prepared to weather the another economic storm?