Although there is a minimum wage set by federal law for most jobs, the actual wage paid is between you and your employee. They are based on the skills required for a position and its importance. For industry specific information, you can contact your trade association regarding profit margins in your business field, and contact your accountant to learn the most current prices.
Personal savings are the main source of funds for starting a business.
An entrepreneur must have some personal assets in the business. Finally, other individual investors, known as angel investors, are a source of equity financing. There are many accounting software programs available that generate financial reports and are relatively easy to learn to use. If your business is complicated and your skills are limited, then seek assistance. It is very important for a business to keep adequate records to see how well the business is doing, to substantiate your tax returns, and to request a loan from a bank or credit from a supplier.