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What does a Business Owner do?

A business owner owns either a portion, or the entirety of a business. Some business owners are actively involved in the business, while others take a more hands-off approach. They might be involved in different aspects of the business, including finance, operations, logistics and marketing. The business owner also accepts the risk and reward of the business' success.

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Working as a Business Owner

A business owner typically has the following duties:

  • Plan and track progress toward business goals.
  • Recruit, hire, train and monitor employees.
  • Manage all administrative duties of the business, including bookkeeping and accounting.
  • Strategize marketing initiatives in order to grow the business.
  • Communicate and understand the needs of the customer while resolving any problems.
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How much does a Business Owner make in the United States?

Average base salary

$17.08
Profit sharing
$3,500per year

The average salary for a business owner is $17.08 per hour in the United States and $3,500 profit sharing per year.764 salaries reported, updated at August 8, 2022.

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Where can a Business Owner earn more?

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Common questions about for a Business Owner

What are the advantages and disadvantages of being a business owner?

As with any career, there are advantages and disadvantages to being a business owner. Business owners tend to have more flexibility with their schedules and can make important business decisions that directly affect the business. On the downside, business owners typically accept more risk in terms of the success of the business. They might have to work evenings and weekends initially.

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What does a typical workday look like for a business owner?

The typical workday of a business owner varies depending on the type of business and how hands-on the owner is. One business owner might choose to work directly in their business, interacting with customers, whereas another business owner might oversee a manager who handles day-to-day duties.

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Are business owners in demand?

Business owners are in demand in many parts of the country to fill service needs. For example, rural cities that have limited shopping and dining choices would benefit from a business owner offering these services. Areas with limited home services like plumbers or electricians would benefit from a new business owner that meets these needs. Successful business owners identify a demand in the market when planning.

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