When the future is unclear: 3 practical steps to safeguard your business

In a rough economy, pretty much no one is immune to a little turbulence — that can include your small business . And the bigger and more resources you need in order to run your business, the more you'll need to pay attention to when you try to protect it. Below, CNBC Select outlines a few simple ways you can make your business more resilient during uncertain times. Read on to learn more. Protecting your business in uncertain times Set aside money for future use in a savings account designed for business Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability. Annual Percentage Yield (APY) 3.09% with a daily balance of $5,000,000 or below; 3.90% with a daily balance above $5,000,000 Build up reserves Experts recommend putting aside a portion of your revenue so you can pay taxes , but during uncertain times, do a bit more than that. Set aside any extra savings so you can weather more serious financial setbacks, like if you have a bad month with low revenue and still lots to pay for, you can use some of those savings to cover the bill. The LiveOak Business Savings is a top business savings account because it offers a decent APY for earning interest on your balance. It doesn't have a minimum required deposit to open an account and there's no monthly maintenance fee. …