Workers may be making more in the tight labor market, but many small-business owners are forgoing paychecks to survive. About 64% of small-business owners surveyed by Forbes Advisor said they had not paid themselves a salary to keep their business afloat. One-third of respondents say they frequently don’t pay themselves a salary to keep their business operating. The survey found many business owners are indeed worried about the long-term survival of their businesses, with a combined 30% saying they are concerned about their business making it another year. Additionally, about 35% of small-business owners said their revenue is lower than pre-Covid-19 levels.
Worker pay is on the rise, but a pivotal group is often missing out
August 8, 2022