How Can Small Business Owners Set Aside Savings? 🎙Square's Podcast - Paying it Forward

[isabelle]

Hi Seller Community! 💕

We are excited to announce that Square has launched its second official Podcast: Paying It Forward. We will be releasing an episode every Thursday. Find us on Spotify, Apple, Google or wherever you listen to podcasts. 

Our final episode looks at why small business owners are saving for the future. You may have seen interest rates before, shouting at you from a brightly colored advertisement enticing you to apply for a loan or a credit card but what exactly does APY or APR mean and...is it a good thing if those rates are low? When it comes to Vanessa Acosta’s small business, setting aside savings has meant being able to reinvest in her business, buying new equipment, and this year...hiring new employees.

After you listen to the episode, use the reply button below to let us know what you think! If you wanted to dig into a few of the resources highlighted in the episode, check them out here:

• How 3 Small Businesses Are Reinvesting Their Profits
• The Basics of Business Savings and Checking Account
• What Is Savings APY?

Can't wait to hear what you think! 🤓

[mig510]

don't use the savings program!!! the minute you want to use the funds they freeze. "suspend your account" suspended 2 days now with 26k in sales suspended but they took their fees out!!!!!

[HC_Charlie]

Thanks for posting this @isabelle , there is some really great info here. I know especially during the pandemic and closures it was very difficult for businesses to meet their expenses without any savings in reserve. Having a savings plan is really essential, and it's often overlooked.