What is the Benchmark for a Small Biz’ Owner’s Compensation?
October 24, 2013
By Bob Coleman
Editor, Coleman Report
$68,000 says an American Express survey.
“A study from American Express OPEN revealed that while more than half of small business owners pay themselves a regular salary, they are receiving an average salary of $68,000 annually, down from $72,000 a year ago. In addition, nearly 15 percent of small business owners need to work a second job while running their business in order to make ends meet.
“Despite that, small business owners feel there is a lot to look forward to in the year to come. More than half of those surveyed have a positive outlook regarding their business prospects over the next six months, while more than 4 in 10 are confident that their revenues will increase.
“The research suggests that business owners have abandoned their “wait and see” approach, with one-third of entrepreneurs making growth a top priority.