Clearly, the past several months have not been kind to small businesses. There is a growing consensus that we are looking at “hard times” in the world economy for at least the next several business quarters and possibly longer. Here is a “checklist” of questions you should be asking yourself right now.
Generally, there are three ways that you can take money out of a business if you are one of the owners. Either the company pays you compensation for your labor; if you have loaned money to the company, the company repays your loan; or the company makes a distribution of profit to you (this is called a “dividend” for a corporation, or a “distribution” for a partnership or L.L.C.).