I'm a new entrepreneur ( soon to be entrepreneur) with a partner. I'm looking for a far scheme to split money from our business.
After we split profits, I'll give $800 back to the bank and my partner will only be giving back $210. That leaves me feeling like the business structure isn't fair. I'll end up with about $400 per month spending money and my partner will end up with $1000 per month spending money.
So, I've asked my partner to make the business pay the banks, for the money we pulled out, to start the business. After the business pays the banks ( just like a business loan ) - THEN we will split the profits. We will both end up with the same amount of spending money each week.
Is it far to make the business pay the banks back, for the money we pulled out?