Would You Give them Money to Start a Business?
October 2, 2007 7:27pm CST
My sisters-in-law are asking us to give them money to invest in a home business. They've tried to manage a one-car taxi service before but didn't know how to reinvest the money into maintaining the car so the business didn't work out. And it happened twice. Now, they say that they have attended a seminar with a government agency that helps put up small businesses for entrepreneurs. I told them that they were better off going into a home-based call center business which required little capital and they could use the savings to invest in something bigger. But they want to start with a bigger business now. Would you agree to this?
• United States
5 Oct 07
No I would not give them money. 1 because they have already started a business and couldn't figure out how to reinvest to keep their business going. the home shopping network pays people to work from home with very little investment money and you can start out making 15 dollars an hour and you set your own times to work.
5 Oct 07
They are interested to try and they are doing something to become progressive. Of course, you won't just give money to them, there are conditions and you won't be giving what you cannot afford. You can help them if you give money to them, with benefits also to you, perhaps.
3 Oct 07
Well how they want to do business is pretty much up to them... But there is a golden rule, never ever mix business and family/friends. It wont work out at all. I dont even mix money and the two F's. It always opens big doors for problems. Nah I wouldnt help them with money or loan, but Id gladly help them all I could as much as I could, just no money.
3 Oct 07
Have you consult this with your partner? Sometimes their family's talk had a better solution. I don't have any comments about, should she start with mid or big scale, because some business needs at this range to become a competitive and survive as a new company. Don't make her twice failures as a remark of her lack-capability, sometimes from those failures she can learn a lot of experiences which will provide her a good and careful future decision making. If you are afraid in the outcome, you may act as her business preserver, consider you are the business share-holder. Because you are the capital preserver, you own the business too. And the decision making is better leave to her, but any monthly financial report should report to you. How about this?