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Iowa | -Cash reserves, for more than one reason. Keeping some powder dry and keeping operating costs low in good times and in bad times has some disadvantages, but it can get you through times like these without missing a beat, with or without the government bailouts. Using money to plug a hole in your pocket instead of letting it burn a hole in it, doing without things that most people seem to think they have to have, and using some elbow grease if you have it can mean the difference between being deep in debt and having sufficient cash for times like these for a lot of smaller operations. It's a choice we all make whether we realize it or not.
There are still a lot of problems that extra cash won't solve, but it can still come in handy a lot of the time. | |
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Contingency plans
