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Originally Posted by FlamesAddiction
When you consider how many expenses they have, it makes sense. Many businesses start off leasing or renting equipment until they can invest enough into the business to actually start making money. Not to mention rent and loan payments.
Most businesses take 7-10 years before the owners actually start making money after paying down debt.
https://www.freshbooks.com/hub/start...-be-successful |
If you’re going to make statements that aren’t even supported by your own sources we’re unlikely to get anywhere. The facts should speak for themselves without needing to continually add in vague or otherwise unsubstantiated claims.
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You might be wondering, how much does the average business owner make? According to PayScale’s 2017 data, the average small business owner income is $73,000 per year. But, total earnings can range from $30,000 – $182,000 per year.
PayScale’s average varies greatly from a slightly older median reported by the Small Business Administration (2015). According to the SBA, the median income for self-employed individuals at an incorporated business was $49,804 and $22,424 for unincorporated firms.
Looking at a nationwide average can be misleading since each state (and even city) has a different cost of living. For clarification, the SBA also breaks down the average income of a business owner by state. For example, their data shows that California small business owners (incorporated) earned $56,142 while Vermont small business owners (incorporated) earned $45,828. For a full list of Small Business Profiles by state, check out the SBA’s website.
https://www.patriotsoftware.com/blog...verage-income/
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The credibility of your data sources aside(due to the fact that it’s anonymously gathered pay scale’s data is not verifiable) I’m not seeing anything here that suggests small business owners would make less money than an employee earning minimum wage. Even according to the outdated questionable pay scale data you’ve provided small business owners at minimum are making more than double what a fulltime employee earning the federal minimum wage is.
You’re also conveniently neglecting to mention that small business owners are able to benefit from things like writing off a vehicle or a portion of their mortgage payments and that the financial gains would not be included in their income totals.