Big NO for Business Partnership
By Shavkat
@Shavkat (137213)
Philippines
February 18, 2017 6:21am CST
If you are going to have a business, we should never consider having a partnership with our relatives. Immediate family is better to have a business partnership. Why? They can be trusted more than our relatives. In the real world, betrayal comes along because of greediness. This is a fact that happens in reality. If the immediate family will commit betrayal, but it is not most likely happen. However, the most ideal to put up a business in a sole proprietorship. At least, there is a slim chance for being betrayed.
Image Credit; pixabay.com
7 people like this
9 responses
@TiarasOceanView (70035)
• United States
18 Feb 17
I agree.
Family can be the most deadly asset to a person in any form, business or otherwise Shavkat.
I hope all your dealings are blessed.
2 people like this
@TiarasOceanView (70035)
• United States
18 Feb 17
@Shavkat Good that you learned long ago.
1 person likes this
@lovinangelsinstead21 (36850)
• Pamplona, Spain
18 Feb 17
Could not agree with you more. Better to do things for yourself than to have people around you that could mess it all up for whatever reason.
1 person likes this
@lovinangelsinstead21 (36850)
• Pamplona, Spain
18 Feb 17
@Shavkat
At least that way you know where your business is going and how much effort goes into it and what needs doing.
1 person likes this
@Shavkat (137213)
• Philippines
19 Feb 17
@lovinangelsinstead21 I agree. If you have business skills, then there is nothing to worry about.
1 person likes this
@allknowing (130064)
• India
19 Feb 17
When I started a landscaped garden designing company I roped in my niece more for company that anything else. It was my line. Sadly she did not give me the kind of company I expected. I broke the partnership.
1 person likes this
@allknowing (130064)
• India
19 Feb 17
@Shavkat You better take a quick decision on this. Relationships stink sometimes.
@Shavkat (137213)
• Philippines
19 Feb 17
I do think that if it is nor working, then it is better to cut the partnership. We are starting up business by selling imported goods but my aunt is pending the payment of goods and cannot bear to delay the payment to the supplier. It is not healthy for the business.
2 people like this
@lokisdad (4226)
• United States
19 Feb 17
Family is the worst to ever go into business with. The first rule of business is you never do business with family. They have a different expectation because they are family. There are way too many problems with working with family IE: favoritism, thinking they can do what they want and wanting special treatment. Many other problems with that but those are some of the most common ones.
1 person likes this
@ilocosboy (45157)
• Philippines
18 Feb 17
money is the root of all evil. In business where business is driven by capital, relatives in partnership cannot question one another because of the blood relationship... seems like its not proper. Its better when the family run their own business rather than the clan.
1 person likes this
