Big NO for Business Partnership

@Shavkat (65096)
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
8 people like this
10 responses
• 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.
3 people like this
@Shavkat (65096)
• Philippines
18 Feb 17
You said it right, my friend. I had experienced this long before. It is an overturn to say NO deals with the family.
1 person likes this
• United States
18 Feb 17
@Shavkat Good that you learned long ago.
1 person likes this
• 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.
2 people like this
@Shavkat (65096)
• Philippines
18 Feb 17
I agree. It is better to take all the responsibility than dealing with others' mess.
1 person likes this
• 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 (65096)
• Philippines
19 Feb 17
@lovinangelsinstead21 I agree. If you have business skills, then there is nothing to worry about.
1 person likes this
@skysnap (17960)
18 Feb 17
I think it depends on the type of business we do. sometimes partnership is something we have to do.
2 people like this
@Shavkat (65096)
• Philippines
19 Feb 17
It is most like if the business in a big scale. For small scale business, I think it is better for the businessman not to involve family members.
@skysnap (17960)
19 Feb 17
@Shavkat true. small business like clothing, grocery and stuff. is bad in partnership. large business requires partnership on every level.
@allknowing (68695)
• 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
@Shavkat (65096)
• 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
@allknowing (68695)
• India
19 Feb 17
@Shavkat You better take a quick decision on this. Relationships stink sometimes.
@youless (93111)
• Guangzhou, China
20 Feb 17
I agree with you. Actually it is the same to have a business with friends. The friendship may be just broken because of the profits.
1 person likes this
@Shavkat (65096)
• Philippines
20 Feb 17
It is not really ideal to make business with people close to our heart. In time, they will not be in good terms.
1 person likes this
@lokisdad (4264)
• 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
@Shavkat (65096)
• Philippines
20 Feb 17
You had described it exactly. It is not ideal to have business with the family. I had seen some families who fell apart because of having business together.
@Corbin5 (113114)
• United States
18 Feb 17
No matter who we choose to go into business with, it seems that is taking a chance on being disappointment. Sole ownership, like you mentioned, is the best way to go, in my opinion.
1 person likes this
@Shavkat (65096)
• Philippines
19 Feb 17
I do agree with you. If you are the solo in business, there is no need to ask for approval from others.
1 person likes this
@JudyEv (130208)
• Bunbury, Australia
18 Feb 17
Business dealings with family and friends is always fraught with danger.
1 person likes this
@Shavkat (65096)
• Philippines
19 Feb 17
I agree. I had seen some family fell apart because of business.
1 person likes this
@ilocosboy (35793)
• 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
@Shavkat (65096)
• Philippines
19 Feb 17
I definetly agree with you. It is better to have it with the immediate family.
@AkoPinay (10088)
• Philippines
19 Feb 17
Running a biz with or without betrayals is a headache.
@Shavkat (65096)
• Philippines
19 Feb 17
I think it depends. As long as the person knows what his or her doing in the name of business.
1 person likes this
@AkoPinay (10088)
• Philippines
19 Feb 17
@Shavkat and depends on type of business