When should a business owner be entitled to salary?

[eLdavis]

If I have a business what I will do is that I'll just take out all the profit of the business into a separate account, that is what I will use in payment of my employees and the remaining one obviously is for me , I can use it to do some of the things I need and also save some in case there is need for it in the company

Nice idea, are you also going to have a separate account for maintenance of the business or would you just store all in the same account you made mention of?

 

[Sotherefore]

Nice idea, are you also going to have a separate account for maintenance of the business or would you just store all in the same account you made mention of?

Yes I will have a separate account in which I store all the profits of the business and from there I use it to pay salary then the remaining one can still be there in case there is an emergency needs to attend to, I hope this is the best way, how will you do it ?

 

[eLdavis]

Yes I will have a separate account in which I store all the profits of the business and from there I use it to pay salary then the remaining one can still be there in case there is an emergency needs to attend to, I hope this is the best way, how will you do it ?

Good idea, this would prevent you from spending into the capital ment for the running of the business and it also prevents you from being stranded as well.

 

[Sotherefore]

Good idea, this would prevent you from spending into the capital ment for the running of the business and it also prevents you from being stranded as well.

Yes the capital of the business will be in a separate account while the profit will also be on a separate account, well naturally I'm not really good in accounting and financial management probably maybe I will hire a financial manager to take over from me.

 

[YERUS]

Before a business owner can boldly say that he or she gets his or her salary from his business, that means such business has reached its climax of a steady flow of income on daily, weekly, monthly or yearly plan.

Are business owners of these days even entitled to salary?
Yes...it is only when the business has reached a climax, a certain level, that the business owner can boast of receiving salary from his or her business.

 

[joy101]

The business owner can received their salary when the business is growing, because you cannot affect to get something from the business when the business is not balance.

 

[Maphalle]

With me I think as a business owner you must not rush to your salary. Let your business be stable first and make sure it yield a good profit. This is the reason why you need to have enough capital to start a business and do not use the same money for your upkeeps.

 

[Hrtbeat]

Business owners are right to spend from thier profits. It's totally wrong to do that when the business yield no profit at all. And only if the project he is about to spend on is really important

 

[Oluwatobitomisin]

A Business owner is entitled to getting salary when the Business itself can boast of a great profit rate monthly and when the Business can't collapse no matter the challenges faced

 

[greenie]

The owner of the Business needs to charge his or her salary from the first month of business financial operation because he is also an employee of his business entity. If he didn't charge salaries, he will not get the correct profit figure at the end of his financial year.

 

[Fatima]

A business owner can be entitled to salary until when the business is grow and stand very well. If it's a new business the owner is not entitled to salary.

 

[Swazykid4all]

Yes, a business owner is entitle to salaries in other to manage funds properly. If he doesn't want to get his or her self on the payroll then the business may be affected financially.

 

[Ononivami1]

A business owner must have made the decision with the employee at the agreement stage. The date at which the salary would be due should also be communicated. It is very important to always do that.

 

[Setho]

Being business owner salary is one of the most important things that businesses have to do in a very calculative way . I think that a business owner should only be entitled to a salary if the business is doing well .

 

[Mayox25]

My own thoughts on this is that a business owner should place himself on salary from the business, which wil be part of the expenses incurred by the business rather than taking money from the business.

 

[Shigobad20201]

A business owner can only place himself on salary when the business I doing well enough , he should know that taking from the business fund when the business has not stand well will definitely affect the business.

 

[Sotherefore]

You may not be entitled to salary because it doesn't make sense ,you just have to make sure everything in your business is perfect .you can just to take some part of your profit when needed.

 

[Syldan]

Actually I dont think there is any specific time of which a business owner may be entitled to a salary and to some extent it depends on the degree of effort someone can make to be successful in a business.

 

[Ektalakra]

As a business owner I think it is up to you to decide when and how you want. You get to pick when you want to start taking profit from your business. But I think it is smart to let profit slide back into the business until it is stable.

I agree, that a business has full power to decide when and how much they want from their own business, but it is better to keep the profit side and take money according to your work and time.

 

[Matan_z]

He must know that he cannot have big amounts of money from his company, because a company needs those amounts, although he is the owner or even the inventor of that company he cannot takeover all of it's earnings. He can have decent percentages from the company, but not too much an amount that will satisfy him but yet wouldn't hurt the company it's self. A wise owner will do just what I've wrote and then his company will be able to keep running successfully without losing too much. I think that the israeli owners that I've seen so far didn't take big amounts from their companies and managed to take less, which is why their businesses were successful.