NEWS How much small business owners should pay themselves

[Good-Person]

In as much as you want to succeed and make profit in your business. You have to work on every aspect of the business towards problem solving. It helps and generate profit in business.

I think that each and every business should solve some kind of problem and this is the main reason why the business earns money in the first place and they must focus on this aspect.

 

[Gandiba]

I think that each and every business should solve some kind of problem and this is the main reason why the business earns money in the first place and they must focus on this aspect.

That's the fact, it's expected of you as a business owner to know your the weak point in the business.
After that you bring possible solution that can tackle that

 

[Immilash]

Well, I do not pay myself, but I try as much as possible to manage my budget and income in the best way. However, I believe that a person should reward himself for an achievement.

Yes that's true, it will help you in terms of gaining motivation, not only that I've learned that it do help a lot in terms of gaining success, when you pay yourself you'll always be motivated.

 

[Heatman]

As a business owner, you don’t earn a salary. As an employee within your business, you pay yourself based on the role that you perform as an employee. If you are working in the business that you own, then you will draw equity from the business on an annual basis based on your profitability

This is absolutely correct because when it comes to your business you are the one that own and manage everything that comes from it which is why there is no need for you to be paying yourself salary from your own business but you can actually make use of your profits to do some other things.

 

[Pauljonnes1000]

As a business owner you must endeavors to make payment to yourself based on the position you are holding in your company. Take for example if you are a manager, you should be able to take up to five percent or ten percent higher than the next person to you. From that amount you are collecting, you can save, feed your family and do other personal things. By this you will be accountable to yourself and the company management, if there are any.

 

[Robust]

If you are having a small business the way you can use to determine how much you will pay your workers or yourself depends on the income and interest coming.

 

[Kennysplash]

The fact that it is a small business means it is just getting started. So the owners might need to deprive themselves of heavy payment so that the company can grow.

 

[Heatman]

Paying yourself is not a bad idea, it will help you to put more effort need time, that's what I normally do it helps me to stay motivated, if you are working on forum's this will very much help.

I believe that paying yourself is more like creating too many papper work for yourself in the business but if it's something that you think that is going to help your business in record-keeping, then you should do so.

 

[Chibson]

I believe that paying yourself is more like creating too many papper work for yourself in the business but if it's something that you think that is going to help your business in record-keeping, then you should do so.

Paying yourself in a business venture is very important and necessary. It will help your business to keep very good record and as you make more profit you can be increasing your own salary.

 

[Heatman]

That's true, but you have to be very careful, remember the reason why we start up the business is to earn money but not to spend it anyhow, you need to get this right.

If you are not careful with the spending in your business, you will always be having a high level of expenses which will always affect your business negatively in a way that you will not be making enough profit.

 

[Joy123]

Small business owners should Pay themselves base on what they earn because reward for entrepreneurship is based on profits and or income generated.

 

[Trey]

It generally depends on the plan of the business owner and the position of the business. A business owner that is striving to grow the business can pay himself very little from the profit and plough back the rest.

 

[Syldan]

Well I can't really tell exactly how much should entrepreneurs pays themselves no matter how small or large the business is.

Starting a business involves alot of sacrifice which can not be paid.
Actually I think it depends on the kind of business and also the financial status of such business.

Sometimes we can have a big business with huge income so the payment can't be the same with a business that earned less.

 

[Immilash]

If you are not careful with the spending in your business, you will always be having a high level of expenses which will always affect your business negatively in a way that you will not be making enough profit.

That's true sir, even if you have the knowledge it doesn't give you the guarantee for success, You have to work hard to gain success, an also accept the fact you'll be wrong sometimes.

 

[Chibson]

That's true sir, even if you have the knowledge it doesn't give you the guarantee for success, You have to work hard to gain success, an also accept the fact you'll be wrong sometimes.

it is how you apply the knowledge you have that will give you a success. If you have knowledge you need to try as much as possible to apply it in order to be successful in whatever you are doing. That is how it works.

 

[Emmy]

Well, a small business owner needs to survive in his business so it is necessary for business should pay his owner share of profit. However, you should be very determined that not all profit in the business is used for payment of wages.

 

[Good-Person]

I believe that paying yourself is more like creating too many papper work for yourself in the business but if it's something that you think that is going to help your business in record-keeping, then you should do so.

I think that the whole concept of a person "paying" oneself involves the idea of "rewarding" oneself and I think that this is a really great idea due to the fact that people should reward themselves for more motivation.

 

[Immilash]

I think that the whole concept of a person "paying" oneself involves the idea of "rewarding" oneself and I think that this is a really great idea due to the fact that people should reward themselves for more motivation.

Yes sir, it's all about rewarding yourself, that's why you are expected to reward yourself in everything you do,this will give you the motivation to keep going.

 

[Danny4cash]

As a business owner I don't expect the business to pay me some salary. I would rather add some stocks to grow the business. My glad is to see the business flourishing.

That's the best way to grow a business. As a small business owner, your profit you should be reinvested back into the business untill it becomes big. When the business become big, you can pay yourself as you like.

 

[Immilash]

Paying yourself in your business is very important, it will help you to gain a lot of motivation, but that doesn't really mean you should be spending a lot of money.