3 Personal Finance Tips for Small-Business Owners

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By Heather Castle

As entrepreneurs, many small-business owners are comfortable taking risks. But their business is often their biggest asset, as well as the largest source of their household’s income, which means it’s especially important for them to follow basic personal finance and investing guidelines. Not doing so can cause business owners to take on too much risk and endanger their business and income.

Here are three tips that small-business owners should use to guide their personal-finance and investing decisions.

1. Establish an emergency fund

Business is cyclical, meaning there will be times throughout the year when business is better than at other times, and income can vary from month to month.

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