Do you ever take profits from your business for personal reasons?

[Grant]

Have you ever had to take some money from your businesses profits or some other budget in your business? I've never had to, but what about you?

 

[Good-Person]

Have you ever had to take some money from your businesses profits or some other budget in your business? I've never had to, but what about you?

I am quite sure that one of the main purpose of earning profits is to manage your personal expenses. This is what many businessmen do usually. The fact remains that I have seen many businessmen utilising profits after paying and managing other kinds of expenses in business.

 

[Heatman]

The reason why you are starting a business is for you to make money for yourself and use it for your personal needs as well as grow your business as well in order to be able to make more profit. So, I see nothing wrong with taking your profit for your personal needs.

 

[Mostee501]

I haven't but people have different reasons for taking out of their profits in business to solve personal issues. I feel one should but back a larger amount of profit back into the business.

 

[Good-Person]

I haven't but people have different reasons for taking out of their profits in business to solve personal issues. I feel one should but back a larger amount of profit back into the business.

I think that when businessmen receive profits, they have to utilise the profits in order to deal with many other things as well. Earning profits doesn't mean earning income. You have to deal with expenses. Whatever is left is your income. So, there is a difference between the two.

 

[rightminds]

Everyone desires to eat from the fruit of his/her labour but it is highly advisable to allow a business to grow and be fully established before one start to take money out fro personal use.

 

[Good-Person]

Everyone desires to eat from the fruit of his/her labour but it is highly advisable to allow a business to grow and be fully established before one start to take money out fro personal use.

I would never depend on any else except Allah Almighty. I always pray to him and ask for sustenance. The fact of the matter remains that a person must have goals in his life and he must strive and struggle in order to make sure that he lives a comfortable life or at least be able to survive in this cruel world.

 

[Busybee]

Until our business grows, we should not take the profits for our personal use. We can take a salary for our efforts. It is best to invest the profits back into our business.

 

[Syldan]

Actually yes. personally I believe we go into business to be able to make income which will helped us with our Bill's some day. I once did that because it was urgent for me and I had no other options to.

 

[Kane]

The primary idea behind running a business is to make profits. The main reason why we want to make profits because we want to use it for personal needs, to improve quality of life. Therefore, I am open to taking profits. However, I also avoid taking all profits, I keep some percentage as cash reserve for my business.

 

[Good-Person]

Have you ever had to take some money from your businesses profits or some other budget in your business? I've never had to, but what about you?

If I am the owner of the business, then i do not think that i am accountable to anyone else except myself. So, if I own any kind of business, then I would be taking profits for my personal use and I reckon that almost all the business owners do that.

 

[Heatman]

The primary idea behind running a business is to make profits. The main reason why we want to make profits because we want to use it for personal needs, to improve quality of life. Therefore, I am open to taking profits. However, I also avoid taking all profits, I keep some percentage as cash reserve for my business.

I wonder whom the money I am making from my business is meant for because if it is not meant for taking care of my responsibilities and expenses that I have to pay for my personal needs, I don't see any reason why I should be doing the business in the first place because the money is not going to be of any benefit to me.

 

[Good-Person]

I wonder whom the money I am making from my business is meant for because if it is not meant for taking care of my responsibilities and expenses that I have to pay for my personal needs, I don't see any reason why I should be doing the business in the first place because the money is not going to be of any benefit to me.

Exactly! If I am the owner of the business, then I certainly deserve to use the profits that I earn. However, I must deduct expenses and also pay taxes as well from the profit that I earn. This also includes paying employees their salaries and this also includes dealing with other expenses as well.

 

[Heatman]

Exactly! If I am the owner of the business, then I certainly deserve to use the profits that I earn. However, I must deduct expenses and also pay taxes as well from the profit that I earn. This also includes paying employees their salaries and this also includes dealing with other expenses as well.

The only thing that I'm not going to do is spending too much in an extravagant way from my business. This is something that's capable of liquidating any business when the expenses becomes too much compared to the profit the business is making. I always make sure to spend wisely from my business of poultry and fish farming.

 

[Good-Person]

The only thing that I'm not going to do is spending too much in an extravagant way from my business. This is something that's capable of liquidating any business when the expenses becomes too much compared to the profit the business is making. I always make sure to spend wisely from my business of poultry and fish farming.

I think that when it comes to taking profits, I would start creating a budget for that. I would not withdraw all the profits. In fact, I would reinvest the profits in order to make sure that my finances never get affected by whatever I do. This is the best approach in this case.

 

[Heatman]

I think that when it comes to taking profits, I would start creating a budget for that. I would not withdraw all the profits. In fact, I would reinvest the profits in order to make sure that my finances never get affected by whatever I do. This is the best approach in this case.

Yeah, that's very correct. You can't be spending all of your business profits and expect your business to grow and expand. It's never going to possible. Working on your extent of expenses is best for your business growth. All unnecessary expenses need to be cut off.

 

[Good-Person]

Yeah, that's very correct. You can't be spending all of your business profits and expect your business to grow and expand. It's never going to possible. Working on your extent of expenses is best for your business growth. All unnecessary expenses need to be cut off.

This is what I am trying to do. As of now, I am facing financial crisis. Under such kind of circumstances, I have no other option but to reinvest a huge portion of my online earnings. This is also a good strategy. However, the main problem is the risk factor that may prevent you from reinvesting profits in a better manner.

 

[Heatman]

This is what I am trying to do. As of now, I am facing financial crisis. Under such kind of circumstances, I have no other option but to reinvest a huge portion of my online earnings. This is also a good strategy. However, the main problem is the risk factor that may prevent you from reinvesting profits in a better manner.

Well, I can tell you that in this time and now, almost everyone is facing one financial criss or another. The resounding effect of the inflation that's been going on for a while makes it inevitable for most people to be finding it difficult to hold down their own. This is why everyone is looking for better ways to make their businesses make more money with less expenses.

 

[Ja sa bong]

Have you ever had to take some money from your businesses profits or some other budget in your business? I've never had to, but what about you?

My business generates all the money I use and I can take any amount of money from it to solve any of my personal problems. It's why I started a business so I don't have to wait until my job paid me before I can take care of my personal needs.

 

[Heatman]

Actually yes. personally I believe we go into business to be able to make income which will helped us with our Bill's some day. I once did that because it was urgent for me and I had no other options to.

This is it!

The reason why you started your business is for you to be able to make money from that business to be able to take care of your responsibilities and pay for all the expenses that you need to take care of.

As long as this money is coming from your business, it is where you are expected to take the money from.