NEWS How much small business owners should pay themselves

[Agbalagbaa]

Yes, trading itself is a skill, if you want to succeed you need to put away all those things that you are wasting your time with, you need to have focus.

Trading is a good skills that can earn you a considerable amount of money but only if you know what you are doing,a lot of people don't know what they are doing that's why they lose money.

 

[Skysaint]

You're talking about entrepreneurs? I don't really think they are entitled to any salary as they are the owners of their business or businesses and would take whatever gain they want to from their business.

 

[Sotherefore]

You're talking about entrepreneurs? I don't really think they are entitled to any salary as they are the owners of their business or businesses and would take whatever gain they want to from their business.

Normally they are not entitled to salary but sometimes they may choose to take certain amount so as to stop overspending the company's profit. If they choose to take a salary then it is an act of discipline.

 

[GoldenLady]

This should be when the business is stable. You may have to sacrifice some part of your earning in the beginning just to ensure that it grows and can sustain itself later. This may mean reinvesting the profit made occasionally.

As a small business owner, the first thing you need to have in mind is you'll need to pay yourself like everyone else or better put, pay yourself like you were working a 9-5 job if you want to see the business succeed.

 

[Sincerem]

All the business profit belongs to the business owner . And there is no specific amount that should be taken it depends on the choice of the business owner. At least business should I have some extra funds for emergency purposes.

 

[Ofonime6]

For someone like me I think its depend on how much you are able to make from the business everyday the more money you make then you can increase your pay seriously so I think that you think on how to expand the business first its the most important thing ever

 

[Syldan]

Personally I think there is no specific or certain amount of money that entrepreneurs should be paid from their business simply because for a business to succeed, there most be alot of sacrifice that the entrepreneur has denied himself of some certain pleasure of life.

 

[Genie01]

Paying yourself is a form of motivation and it would definitely be helpful in the conduct of future business. But striking a balance between growth and reward is absolutely essential.

 

[Chibson]

A small business owner is the owner of his or her business so he can pay himself any amount from his business depending on how good the business is fetching him or her the money needed

the level of profit the business is making will determine how much the business owner will be paying himself on monthly basis. But even at that the growth of the business should be a top priority.

 

[Skysaint]

Normally they are not entitled to salary but sometimes they may choose to take certain amount so as to stop overspending the company's profit. If they choose to take a salary then it is an act of discipline.

An entrepreneur will only take money from their business if there's a need to and when there's none they would leave the money alone. So there's no amount they can't take from their business if they want if need be.

 

[Sotherefore]

An entrepreneur will only take money from their business if there's a need to and when there's none they would leave the money alone. So there's no amount they can't take from their business if they want if need be.

You will not keep on accommodating money in your business for a long time. when the business generate profit the profit must be taken into a separate account purely dedicated for future use and little for business owners.

 

[Skysaint]

You will not keep on accommodating money in your business for a long time. when the business generate profit the profit must be taken into a separate account purely dedicated for future use and little for business owners.

I am just trying to say that business m n and women take money from their business whenever they want to or when there's a need for it and no one would question their decision as to why and what they intend to do with the money.

 

[Sincerem]

It is your business and you have the responsibility to take whatever profit you feel comfortable to. But at the same time you still have to understand that some money must be reserved for future use and emergency.

 

[Sotherefore]

I am just trying to say that business m n and women take money from their business whenever they want to or when there's a need for it and no one would question their decision as to why and what they intend to do with the money.

Okay I understand. A lot of people that have business and they depend on it as their only source of income will always have to make adequate arrangement to know what amounts they will have to take for their daily feeding and other life expenses.

 

[Syldan]

Personally I think, no amount of money will be quite enough to pay themselves after a business is successful. simply because it takes alot of effort and sacrifice to make a business better worked.

 

[Skysaint]

Okay I understand. A lot of people that have business and they depend on it as their only source of income will always have to make adequate arrangement to know what amounts they will have to take for their daily feeding and other life expenses.

Even in the case of emergencies, they would always make a withdrawal from their business to sort things out but for someone receiving a salary, you wouldn't go back to take another salary no matter what.

 

[Sotherefore]

Even in the case of emergencies, they would always make a withdrawal from their business to sort things out but for someone receiving a salary, you wouldn't go back to take another salary no matter what.

That is exactly the reason I was trying to say that the profit of the business should always be taken out in case things like this happen. But you said the profit should be reinvested in the business

 

[Skysaint]

That is exactly the reason I was trying to say that the profit of the business should always be taken out in case things like this happen. But you said the profit should be reinvested in the business

That's if every other thing is being kept constant. If you have a sick son that's fighting for his life, would you be thinking about making reinvestments or taking him to the hospital no matter the cost? I think I know the answer to that.

 

[Good-Person]

All the business profit belongs to the business owner . And there is no specific amount that should be taken it depends on the choice of the business owner. At least business should I have some extra funds for emergency purposes.

I think that there is a big difference between profits and income. When you minus the expenditure from the total profits, then you tend to get the income. This is what the owner actually owns.

 

[Genie01]

Paying yourself would help boost your motivation and it is as well important that you do not over pay yourself.
This would be detrimental to the success of the small business.