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

[elinab87]

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?

 

[Goku]

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.

 

[elinab87]

Thanks, thats what i did so.