When should a business owner be entitled to salary?

[Sotherefore]

In most cases , this may not really be necessary in the sense that a business owner is the one who understand the amount of money he or she is making on monthly basis . A good business owner will always know the rightful amount of money he or she has to take , Most business organisation do not generate constant profit on monthly basis.

 

[Shigobad20201]

It deoends on the type of business you are doing , as the business owner , if your business started doing well early then you can as we'll start giving yourself salary , but if its the opposite then you know you have ro keep working hard without taking anything .

 

[Lens]

I think that the best practices is that the business owner should collect salary too. The position that he is holding has a stipulated salary and as such, he should be paid certain amount too.

 

[Matan_z]

Well the business owner can earn from the business even big amounts of money as long as they don't effect the business in a bad way. For example if the business owner is taking an amount of money that is needed for the business to purchase the business products and only because he took that from the business the business is losing money, then in such a case the business owner is doing something wrong and hurting his own business. Business owners should be wise enough to know when this is enough and when stop taking money because it might hurt the business, they must consider the fact that the business needs his own amounts of money and such amounts cannot be taken by them. Being a business owner is never an easy thing and it's not for everyone.

 

[Bookwormlux1]

A business owner does not necessarily need to depend on any salary again
, because you get to make your salary anytime that you are able to realise profits from things that you may have sold or service rendered.

 

[Chibson]

It depends on the kind of business you are running. If it is the kind of business that you are the owner and there are a lot of stakeholders then you can be entitled to salary.

If it is a business that belongs to only you then you can do whatever you want to do with your profit. Ater all, you ventured into the business with your money and not anyone's money.

 

[Castelione]

The main reason that you put up a business is to support your needs. Be disciplined on how much and how often you will get money from the profit of your business. If you really need to do so, make sure that your business still capable of running and covered all its expenses to avoid from bankruptcy.

 

[Syldan]

Well, as you have said taken income personal use is stealing and am so confuse and will love to know much about that money that will not be considered as stealing.

 

[joy101]

The business owners should not start immediately collecting money from business, you have to give the business some moment before putting hands in that business to collect any money.

 

[glitch]

The owner should always have a salary. This is separate from the earnings. A company can earn 3 million a year and the owner only takes $150,000 as his or her salary.

 

[Sincerem]

If you have a business , you are simply the one that manage all the funds of your business . well it will depend on your decision if you are to take salaries or just take the profit available in the business you established after every funds for shares and responsibilities have been taken out .

 

[Shigobad20201]

A business owner is entitled to getting salary once he or she realises that the business is doing wel and free from debt and also has enough savings that can be used anytime the business needed fund.

 

[tyrim88]

I agree, I think it is the most basic mistake that business owners make, resisting the temptation to dip your hands into the funds meant for business. That is why it is important to have a different source of income, while you allow the business to grow.

I quite agree with you here,because one act that most business owner will definitelly fail is that they are always putting their hands into the finance of the business and that can make the business not to grow.

 

[Syldan]

There is no specific point in time to which a business individual is entitled to salary because you can earned at anytime depending on how much good you can manage your business more effectively.

 

[Godspower]

There is no specific point in time to which a business individual is entitled to salary because you can earned at anytime depending on how much good you can manage your business more effectively.

A businessman should always have a certain amount of money set aside as salaries. This is to avoid him using company funds for private purposes.

 

[Syldan]

When is business is being managed smoothly and making progress, every business owner is at least entitled to his salary at the end of every month so it could not be like stealing from the business fund.

 

[Godspower]

When is business is being managed smoothly and making progress, every business owner is at least entitled to his salary at the end of every month so it could not be like stealing from the business fund.

I understand your point. I think it is the discretion of the business owner to decide whether he should get a pay from the proceeds of the business he owns.

 

[Syldan]

I quite agree with you, but not completely with all your statements. How do you mean steal? One can spend his or her profit after proper calculations have been made. It is normal to eat where you labour. Please keep that line in mind..

Actually where you worked is definitely were you can eat but sometimes the kind of money you will be taking from your business account can be considered as stealing. some can used the business account like it's for private use.

 

[Chibson]

Actually where you worked is definitely were you can eat but sometimes the kind of money you will be taking from your business account can be considered as stealing. some can used the business account like it's for private use.

Taking from your business profit is not stealing in anyway because it is your effort and it is your money. You just have to be very disciplined and take some certain percentage to solve your daily problems.

 

[Shigobad20201]

There will be a time when you will realise that your business is doing perfectly fine and growing well with enough profit , that is the exact time when you can start having a salaryas the owner of the business.