Paying yourself as a small business owner

In this Finance Friday segment, FirstOntario’s Senior Manager of Business Services, Colin Cyr, explains how small business owners can approach paying themselves. He outlines how business structure influences owner compensation and breaks down the differences between salaries and dividends. The discussion highlights the benefits of consistency, flexibility, and retained earnings, and when it makes sense to leave money in the business. Colin also shares where entrepreneurs can go for guidance and support as their business grows.