Title: 5 Things to Do With Your Small Business Profits
Headings: 5 Things to Do With Your Small Business Profits
5 Things to Do With Your Small Business Profits
What You Need to Know About Small Business Profits
1. Save for a Rainy Day
2. Use Business Profits to Grow Your Business
3. Pay Down or Refinance Debt
4. Use Business Profits to Pay Yourself
5. All of the Above

Content: If this was your first venture, you may have had to borrow at a relatively high-interest rate, so you may want to consider refinancing and/or using some of your profits toward paying down debt. You have two main options here: you can make large payments toward the principal balance of your debt, or you can look for refinancing. If your loan has a high-interest rate, you may want to take your updated financials to lenders to talk about refinancing. Once you can show that your business is profitable, you may be able to refinance at lower rates because you’re at a lower risk of default. If you pay down the principal, you’ll pay less interest over the lifetime of the loan, which will save you money. You’ll also have a lower total debt load, which increases your creditworthiness. 4. Use Business Profits to Pay Yourself
Finally, another way to use your business profits is to pay yourself, the business owner. The use of business profits for owner salaries can be a little bit complicated, depending on the legal structure of your operation.