3-26-24 - 3 Ways Underpaying Yourself Is Hurting Your Business

Small Biz Flash

FEATURE
Small business owners, do you pay yourself a below-market wage to keep your business profitable? Or maybe you take draws, but they might be sporadic and of varying amounts? On today’s show, we’ll talk with an experienced accounting professional about how this practice is hurting your business and how you can fix your own compensation structure.
Today’s guest is Sharon Sheekey, Accounting Division Director at SBS Accounting & Advisors:
Sharon’s email: [e-mail]
Sharon’s LinkedIn page: https://www.linkedin.com/in/sharon-sheekey-874093b0/
SBS Accounting & Advisors’ web page: https://sbsaccountants.com/
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NEWS ROUNDUP
1 - Small Business Owner Optimism Dropped Last Month, Continuing Trend Since Last Summer
https://www.nfib.com/content/press-release/economy/optimism-on-main-street-declines-as-inflation-looms-as-top-challenge/
2 - Labor Department’s New Independent Contractor Rule Facing Lawsuits
https://www.foxbusiness.com/politics/biden-admins-gig-worker-rule-facing-growing-pushback
3 - National Small Business Week is April 28 to May 4
https://www.sba.gov/national-small-business-week
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This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! Go to https://sbsaccountants.com/ today to set up a free 30-minute consultation.
👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg.
📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at [e-mail] and let’s grow your business together!