When should a business owner be entitled to salary?

[eenya001]

a business owner should only be entitled to a salary if the business has started producing profit or the business i
has become more stable in terms of cashflow or a certain customer base, that is when the owner should pay himself salary.

 

[Syldan]

Well, salaries are entitlement of a labourer at the end of his service provide. so I believe that an entrepreneur has also laboured and it's expected to be paid at the end of his effort made, that should be monthly ending.

 

[Sincerem]

For discipline purposes it is necessary for certain business owners to pay themselves salaries so as not to abuse the resources of the business. Even though you are entitled to all resources of the business as a business owner but with salary you can limit how much you are taking from your business on monthly basis.

 

[Godspower]

For discipline purposes it is necessary for certain business owners to pay themselves salaries so as not to abuse the resources of the business. Even though you are entitled to all resources of the business as a business owner but with salary you can limit how much you are taking from your business on monthly basis.

A business owner needs to be entitled to a certain amount as salary to promote accountability in the business. If not, it will lead to abuse of resources and financial recklessness.

 

[Sincerem]

A business owner needs to be entitled to a certain amount as salary to promote accountability in the business. If not, it will lead to abuse of resources and financial recklessness.

Yes that is exactly what I am also saying but I don't really know about certain business owners over here if they are entitled to salary. Some of our business owners may not really see the need for this.

 

[Shigobad20201]

A business owner needs to be entitled to a certain amount as salary to promote accountability in the business. If not, it will lead to abuse of resources and financial recklessness.

If you dont have any side business that brings you money apart from the current business , then you are entitled to some small amount of money , thats if the business is making progress .

 

[Robust]

Well I have never seen when a business owner was entitled to salary except he is a government worker and also running his own business aside. Then he will be earning from the government also any from his business.

 

[Setho]

If the business had made so much money and they are making consistent profit that can be tracked, then this is now the right time for them to start paying their owners on a monthly basis.

 

[Sotherefore]

Personality business owners should never be entitled to salary except for some reasons. The profit generated by the business after all expenses has been removed is the business owner's profit.

 

[greenie]

As for me this a big question that I don't know how to answer when the business owner be entitled to salary but to me I think the business owner is entitled to salary when the business is standard and moving as he has planed but it depends on the kind of business in question.

 

[Shigobad20201]

As the owner of the business that wanted the best for the business , you must kin that taking money from the business when the business is still struggling will affect the business negatively but you need to wait till the business is doing well before you start taking salary from it .

 

[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.

This fact is Very true,as a business owner among the things that you should have is self discipline,you need to have patience as well,because it is the funds from the business that would be reinvested back into the business for growth.

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.

This fact is Very true,as a business owner among the things that you should have is self discipline,you need to have patience as well,because it is the funds from the business that would be reinvested back into the business for growth.

 

[Sincerem]

It depends on How you want to arrange your business. There is nothing wrong if you only have to take a certain amount at the end of the month and return back the remaining profits into the business account.

 

[Agbalagbaa]

Before you can actually start up a business you need to have a business capital, and you have to understand that you start up the business to earn money.

 

[Mighty]

This is one of the best factors that makes small businesses crash, I used to work in an organisation where the CEO was always doing such untill the accountant cautioned him against doing such and placed him on a salary

 

[Joseph555]

so many businesses collapse because the business wasn't even matured enough before the owners started harvesting and stealing from the business, at least the business should experience some growth and be making some profits before you start removing money from it

 

[joy101]

A business owner is entitled to salary from the inception of the business. This will not create an avenue for the owner to use from the business capital and this will prevent the best from going into financial crisis.

Yes, every business owner is entitled to receive salary every month ending that is when everyone supposed to receive salary, as a business owner should try as much as it is possible to keep that in mind.

 

[nana kwasi1]

Accepting the temptation to dip your hands into the funds intended for business is, in my opinion, the most fundamental error that business owners can make. To ensure financial security while you allow your company to expand, it is crucial to have a second source of income.

 

[Shigobad20201]

Since you are the owner of the business , you are entitled to take any amount of money from the business , but only from the profit and that can be possible If the business is doing well .

 

[Ayojesu]

it's not even about salary, a business owner must cultivate the habit of paying him or herself too, not just the employees alone, take some profits out of the earnings and reward yourself for your efforts