Big NO for Business Partnership
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
8 people like this
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.
• 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.
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.