When should a business owner be entitled to salary?

[Abbeyola]

To me, a business owner taking out of the business earnings for personal projects at an early stage of the business is STEALING FROM THE BUSINESS.

A business owner who wants the business to grow won’t be tempted to use the business earnings for personal projects. The owner should be entitled to salary when the business is having steady cash flow.



Have you been stealing from your business?

When a business owner begins to earn salary, is simply when the business organization is doing very well and can pay all it expenses and still have excess to save.

 

[Jesuyemi 08]

To me, a business owner taking out of the business earnings for personal projects at an early stage of the business is STEALING FROM THE BUSINESS.

A business owner who wants the business to grow won’t be tempted to use the business earnings for personal projects. The owner should be entitled to salary when the business is having steady cash flow.



Have you been stealing from your business?

A business owner should understand that the money used to run the business is not for his personal use. Anyways, he or she can start earning from the business as soon as the business can guarantee a relative income that will not be part of the capital.

 

[Spicywilfred]

A business owner should of course have a salary, this is to help resist the temptation of accessing the business money anytime there is a need. I believe receiving a stipulated salary will help curb unnecessary expenses especially at the Early stage of business.

 

[Rachelgold]

It might not directly be stealing but any business owner that wants to grow should be disciplined. He or she should draft out his salary or wages schedule, he should also be able to curtail unnecessary spendings, any body can run a business but it takes a disciplined one to successfully run the business

 

[Setho]

What you have said is actually very spot on. As a business owner, you should not form the habit of taking from the business money very early on because you can kill off the business. A business owner should be entitled to a salary only when the company is sure that they can afford to.

 

[ClicketyKat]

I think earning a salary and taking money out for personal pet projects are two entirely different ideas. It's absolutely okay for a businessman to earn a salary from his own company even from the very beginning. He might have a family to feed!

 

[Bookwormlux1]

There's nothing like stealing from your business. You had to note that, there's no need accumulating money without using it for personal projects.

 

[Good-Person]

I do not really understand the purpose and meaning behind this post. A business owner is not "entitled" to salary. A business owner is the owner and he OWNS the business he runs. A business owner is an an employee. How can an owner be his own employee (Unless you say I am my own boss)? Anyways, jokes apart.

 

[Kingsley]

The business should not consider receiving salary ratherthe business owner or the owner of the business should consider making or taking profits. And profit should be taken when the business is stable enough.

 

[Setfragil]

You can't just start to pay yourself salary when the business is yet to stand on it own, that would mean a disaster to the business. A business owner is entitle to salary when his business starts to yield the desired turnover on the capital invested.

 

[Ayokex]

In as much as I'm the owner of the business there is nothing to be worry about when to starting getting paid. It is not advisable as a business owner to start removing from business while the business is earning much.

 

[Chibson]

I understand your stance though. It all boils down to the business owner to know the kind of business he/she wants to run. The owner of the business might decide not to use the business proceeds to solve his personal problems.

 

[Adebola]

A business owner i believe will be aware of whatever that is happening in his business. When the business is making profit he too can benefit from that so i wont call that salary

 

[Doradorwa]

If a business owner is taking out the business money for personal use when the business is still young then the business is prone to fail but when the business is fully developed then there is nothing wrong in taking money out.

 

[joy101]

A business owner is only benefiting from he/her business not salary because is not working for someone, she can only accept profit in business not salary.

 

[McIrx]

If you're yet to break even, don't take money from the business because it will kill it. Forget the noise about paying yourself and all that; there is something called delayed gratification. Yes, wait till your business starts making profit before extracting money. There are some jobs one starts and won't get a penny for the first six months. They'll pay the six months salary altogether at the end of the sixth month. Will the person die during those six months? No.
Allow your business to grow to a self sustaining beast before you start paying yourself! It'll give you peace of mind.

 

[tyrim88]

a business owner will only be benefiting from his or her business business and that can be his or her own salary but there is no special arrangement for the owner of a particular business to have a salary or pension because the business is under his control and he can decide how much he actually need to earn in a month.

Not that it is a wrong idea to earn from your business,because that is the aim of establishing the outfit.But lack of discipline and unecessary withdrawal can make the business,reason for a salary fixed for the owner.

 

[Muhammad Arslan]

Anyone who has never owned a business could romanticise the concept of "entrepreneurship." It's easy to imagine glamorous CEOs who seem to have it all together and earn a lot of money. However, if you've ever been a business owner, you know that life is rarely that easy, particularly when it comes to a small business owner's salary.

 

[Shigobad20201]

It really depends on what works for you really. Some people have this special gift of converting small business into great ventures and starting small wouldn't mean anything to them. However getting a loan helps save one from all the stress and hurdles you would encounter if one has started small. It has the disadvantage of uncertainty. If one procures a loan and then the business's ends up flopping then there's a problem.

A business owner is only entitled to a salary only when he has achieved his aim and objectives in effecting the business and not owing a dime while the company is moving day by day.

 

[Ayokex]

a business owner will only be benefiting from his or her business business and that can be his or her own salary but there is no special arrangement for the owner of a particular business to have a salary or pension because the business is under his control and he can decide how much he actually need to earn in a month.

This decision should be based on the owners wish but in my own view. A business owner is entitled to be getting paid from his/her business no matter how little when the business is already bringing some income enough to take care of it's expenses.