Being an entrepreneur is no mean feat. This is especially so in Nigeria, where the system is deficient and you have to work twice as hard!
But, if you have
A monthly income, amongst other things, will convince the visa issuing officer that you are a legit business owner and you have strong ties to your country.
I know people who have been denied visas
You can pay yourself a salary in two ways. First is, the salary method which is the typical payment structure. You can also earn using the owner’s draw method. Here, you as the owner withdraws from the profit your business makes.
Still not convinced about paying yourself a salary? Here are a few reasons you should consider:
Other than having sufficient funds, it is extremely important that your money can be traced to a reliable source. Paying yourself a salary indicates a commitment to your business; it shows that you are committed to ensuring the growth of your business.
Receiving your salary in a separate account from your business account helps you manage your personal finances, thus demonstrating that your finances are not only in order but that it can fund your travel expenses.
Paying yourself has some tax benefits. As an entrepreneur, paying your tax also further proves your claim that you are a
As an entrepreneur, do you pay yourself a monthly salary?