Knowledge Center
Put a Money Market to Work For Your Small Business
running-a-business | Read Time: 3 minutes
By Shelly Kavanagh | Published: November 2023

In a high interest rate environment, it’s critical for small businesses to optimize cash flow, operations, sales and profits. Sometimes, balancing cash needs with investing in the business can be a challenge, but there are ways for small businesses to do both simultaneously with a money market account.
Easy Access to Your Cash
Money markets for small businesses keep your cash secure and assets liquid, while typically yielding higher interest rates than traditional savings accounts. They also provide quick, easy access to your cash when you need it. Just make sure you are aware of any withdrawal limitations that may apply to your account.
Meanwhile, the cash you have in your money market when you don’t need it will continue to earn interest and provide a higher return on your investments, especially during high interest rate environments like we are currently experiencing.
FDIC Insured
While all investments carry some risk, money markets (for both personal and small business accounts) are insured by the Federal Deposit Insurance Corporation (FDIC). Use the FDIC’s online tool to determine coverage limits.
The Flexibility Your Business Needs
While a small business money market gives you the flexibility to withdraw funds and have a debit card and/or checks, a CD, or Certificate of Deposit, is a savings tool that has a pre-determined duration with a guaranteed rate. During this time, you cannot access the funds but the tradeoff for this commitment is typically higher interest rates.
While you won’t likely get the rate of return on a money market account that you would on a CD, you have more flexibility to add money to the account, essentially building on your small business’ savings while also earning interest.
Start Earning Now
Speak with your banker to understand the rates associated with how much money you have invested in your money market.
Learn more about WSFS Bank Small Business Money Markets’ account features, benefits and options.
About the Author – Shelly Kavanagh
Shelly Kavanagh is Senior Vice President, Director of Retail Delivery for WSFS Bank. Prior to her current role, Kavanagh served WSFS as Director of Retail Strategy, Regional Manager, Retail Program Manager, and Small Business Relationship Manager. She brings more than 16 years of experience in banking.
Related Articles

Protecting Your Small Business from Fraud
Fraud remains at all-time highs, particularly in the business world. According to the Association of Finance Professionals’ (AFP) 2023 Payments Fraud and Control Survey, 65% of businesses said they’ve been victims of fraud attacks or attempts in 2022.
Read More
Small Biz Insights: Preparing Your Small Business for 2024
2023 has presented many challenges for small businesses, with inflation and rising costs impacting many owners’ bottom lines.
Read More
African American Chamber of Commerce and WSFS Bank Team Up for a Small Business Workshop with the Philadelphia Union
How does a new small business owner build credit? What are their options for accessing capital, and how do they build it all into a solid business plan?
Read More
Small Biz Insights: Funding and Growing Your Franchise
Franchising is a rewarding endeavor for many small business owners and entrepreneurs, but it is also a long and winding road, from meeting franchisor requirements to securing necessary financing to get the business started.
Read More
Georgeo’s Water Ice – A Family Business Focused on Growth for More Than 43 Years
When George Swayngim started Georgeo’s Water Ice Inc. in 1980 in Marcus Hook, Pa., he started with his own line of the summer (and all year round for some!) favorite, Italian Ice.
Read More