NEWS How much small business owners should pay themselves

[Immilash]

Yeah, but then this is startup and there are alot of logistics that would require a small business to grow if you pay yourself alot , it might affect the tendency of growth.

If you are starting up a business for the very first time you are going to go through a lot, you are expected to endure all the challenges, that's were a lot of people fail.

 

[Agbalagbaa]

If you are starting up a business for the very first time you are going to go through a lot, you are expected to endure all the challenges, that's were a lot of people fail.

Endurance is very essential but more to that, it is essential that you are critically innovative in your approach otherwise you could be enduring making the same mistakes.

 

[Immilash]

Endurance is very essential but more to that, it is essential that you are critically innovative in your approach otherwise you could be enduring making the same mistakes.

That's just the fact, if you are running a business you are expected to have a lot of things, if you are the type that give up easily I don't think you can make it.

 

[Agbalagbaa]

I met a friend that told me how his business crashed as a result of not being careful of how he motivated himself.
His little startup capital got burnt at the course of trying to motivate himself.

 

[Immilash]

Paying yourself in your businesses is not a bad idea, if you are good at doing that it will help you to stay motivated, this might also help your business to be successful.

 

[Ayojesu]

For a small business owner, I wont advise you to start paying yourself yet, the business is still small and requires funding and scaling, so just get more investors or partners to grow it first before you think of paying yourself

 

[Syldan]

I think for me, business minded entrepreneur, will not be worried about how much he should pay himself but how can he expand his income. there is no specific amount of money that can pay them because of their efforts towards the success of the business.

 

[Bousine123]

I don't think there is any specific amount a business owner should pay himself because the business belongs to him or her, he should focus on how to promote his business and make more gains.

 

[Good-Person]

I don't think there is any specific amount a business owner should pay himself because the business belongs to him or her, he should focus on how to promote his business and make more gains.

The amount of money a person pays himself may depend. I think that I would be "paying" myself in the form of reward for accomplishing a goal. This would motivate me a lot.

 

[Syldan]

Even if the entrepreneur will be paid 60 to 70% from the company income, is not bad due to his efforts and sacrifice for the business to succeed but a business minded person may consider that ad risky to the growth of the business. no specific amount will be enough to pay an entrepreneur.

 

[Shigobad2020]

Theres no limit to what you can pay yourself as the owner of the business depending on the amount of profit you are making from the business , by you just need to make sure you have a reserve fund and the main business fund is intact too .

 

[Syldan]

The effort and sacrifice that alot of entrepreneurs has made, can not be paid no matter how much they are been given. though given them huge amount of the business income, can affect the business.

 

[Skysaint]

Personally I think, there is no specific amount of money that will be enough to pay entrepreneur after the success of a business because i believe it takes alot of effort and sacrifice to reached the success point.

They are the owners of their business and so they are not even entitled to be paid by anybody rather they take from the business any amount they want to solve their problems anytime any day

 

[Danny4cash]

It depends on the profit there are getting from their business. If my business is bringing me a lot of money now, I can decide to pay myself any amount.
The small business owners are the one that should decide how much they should pay themselves. For me, I don't bother about salary once my business is growing. So, it's not important I pay myself. It's individual thing.

 

[Jonaville]

I think a real entrepreneur don't really do takes his business income as personal but an earning that is expected to be used effectively. at least make some amount that is reasonable to pay yourself from the business.

You are very right about this. The person should be able to pay himself a reasonable amount. Even though he does not want to be paying himself, he should make sure that he feeds himself and take care of himself from the job that he does.

 

[Syldan]

Well small business owners are supposed to have something for their labour actually because it's all based on sacrifice even though I can specify any amount of money to be paid but something to sustain them and the business.

 

[Good-Person]

Well small business owners are supposed to have something for their labour actually because it's all based on sacrifice even though I can specify any amount of money to be paid but something to sustain them and the business.

Well, I do not think that any kind of business owners are required to pay themselves.- However, they are required to create a specific budget that could help them.

 

[Danny4cash]

I don't think there's need for business owner to pay themselves. As a business owner, the business belong to you and you can decide to do what you want with your business money. So, there's no need for business owner to pay themselves.

 

[Gandiba]

Paying yourself is not a bad idea, this will also help in terms of boosting your morale, but you have to be very careful don't go ahead and spend more than what you can earn.

That's the fact, in as much as you own a business or company, I believe you have every right to pay yourself specific amount of money. Whereas all other profit and gain are vested in your hands.

 

[Immilash]

That's the fact, in as much as you own a business or company, I believe you have every right to pay yourself specific amount of money. Whereas all other profit and gain are vested in your hands.

Yes you are right, if you own a business or company you have the right to do whatever you like, but still you have to be careful, being careful with how you spend will help.