UK New business/ wages when co don't make enough profit.


Joined
Dec 13, 2020
Messages
2
Reaction score
0
Country
United Kingdom
What to do if new company doesn't make enough profit to pay out wages? Lets say I own my Ltd company. Im the only one employed but profit have enough to cover purchase invoices. Got some leftovers, but not enough to pay wage. I assume u drawing owner's acc, so company owes me . BUT if business don't have any extra money to take out from. What then?
 
Ad

Advertisements

Joined
Dec 16, 2020
Messages
7
Reaction score
0
Country
Pakistan
You must be referring to gross profit. If your gross profit is less and is not enough to pay wages then it is leading you to overall net loss.consider reducing wage rate or downsizing.
Anyways I am a student so don't follow my suggestion as I don't have any practical experience.
ask a professional business consultant instead.
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top