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Soflasnapper
08-23-2012, 11:31 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">
More Than Half of Small-Business Owners Go Without Pay

Courtney Rubin, Business Writers, Recent Posts


June 12, 2012

<span style='font-size: 14pt'>More than half of small-business owners have gone without a paycheck—and nearly a quarter of them for a year or more—in order to keep their companies afloat</span>, says a new report.

Citibank's latest survey, polling the owners of some 750 small businesses nationwide, shows most have paid a significant personal price in recent years to keep their firms afloat. <span style='font-size: 14pt'>Roughly 80 percent say they had taken less profit, with 66 percent saying they had cut profits to pay employees rather than reduce staff.</span> Some 70 percent say they worked more hours—forgoing vacation and family time—and nearly two-thirds say they suffered from personal stress.

“Small business is a highly personal undertaking," says Maria Veltre, managing director of Citi Small Business. “Small-business owners risk everything to pursue their dreams and are willing to do what it takes to make it."

Employees Sharing the Load

Employees also pitched in, with more than a third of small businesses (38 percent) reporting that their staff had worked extra hours without pay. Another 18 percent say employees had voluntarily missed or delayed paychecks. (Could letting your employees work extra hours without pay get you sued? Click here to read more.)

To show appreciation for employees, 78 percent of those polled say they had offered additional time off. Three-quarters offered bonuses, and 70 percent gave raises. The survey also showed more than half (53 percent) have had to reinvent their companies "to stay afloat or competitive."

[...]

For their makeovers, 38 percent increased spending on capital investments in the past year. Where did the money go? The answer is computers, inventory and facilities. The top two sources for funding: Revenue and profits (75 percent) and personal savings (62 percent). </div></div>

Here (http://www.openforum.com/articles/more-than-half-of-small-business-owners-go-without-pay?intlink=us-openf-nav-ymal-manual)

LWW
08-23-2012, 12:04 PM
So is your position now the same as mine ... that the Obamanomic policies have hammered the nouveau riche while protecting the old money rich.

eg8r
08-23-2012, 01:49 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">More than half of small-business owners have gone without a paycheck—and nearly a quarter of them for a year or more—in order to keep their companies afloat, says a new report.</div></div>How many of them used the business to cover their lifestyle including house and car?

eg8r

Soflasnapper
08-23-2012, 04:57 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">So is your position now the same as mine ... that the Obamanomic policies have hammered the nouveau riche while protecting the old money rich. </div></div>



A clue:

When some text is enlargened, put into a larger font size, THAT is what is being emphasized.
[i]
Roughly 80 percent say they had taken less profit, with 66 percent saying they had cut profits to pay employees rather than reduce staff.

That was the point. Didn't simply increase their prices, so as to make your earlier firm point true, that all businesses pass on and pay for all expenses out of sales revenues.

Took less profit, and when they could have reduced staff, preferring to take less profit to keep more paid staff.

Or, could have reduced staff (and some did, of course), again rather than increasing their pricing to their customers to cover all their expenses.

Soflasnapper
08-23-2012, 04:58 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">More than half of small-business owners have gone without a paycheck—and nearly a quarter of them for a year or more—in order to keep their companies afloat, says a new report.</div></div>How many of them used the business to cover their lifestyle including house and car?

eg8r
</div></div>

If you have those facts, I'm interested to hear of them. /forums/images/%%GRAEMLIN_URL%%/whistle.gif

eg8r
08-23-2012, 05:01 PM
If I had them why would I be asking you.

eg8r

Soflasnapper
08-24-2012, 09:42 AM
As I neither have any factual knowledge on those facts, nor a strong opinion (the two not always related!), I'll resist the request to run my mouth. That is criticized around these parts, can't recall just now by whom. /forums/images/%%GRAEMLIN_URL%%/crazy.gif