Doing business by making your relatives as partners...

[Smiles20]

Making your family partners in your business is not really something that I am going to kick against. The most important thing is that they are very knowledgeable about that field and you guys have a very cordial relationship.

 

[Immilash]

This depends on the level of trust you are having for them, if you trust your relatives you can decide to employ them in your businesses, but if you don't trust them I don't think it will be a good idea.

 

[Ayojesu]

Do not even attempt to try it, I rather partner with someone that is a professional or an expert in a certain field that will give me exactly what I want then to do that with a relative, they will soil my business.

 

[Shigobad2020]

The business plans and strategies that works for me might not actually works for another person , though its very dangerous doing business with a relatives cos he or she might make attempt on your life just to inherit the business , but there are still some relatives that can be trusted .

Do not even attempt to try it, I rather partner with someone that is a professional or an expert in a certain field that will give me exactly what I want then to do that with a relative, they will soil my business.

 

[Chibson]

There are a few of my relatives who are poor. I may employ them. However, it would never be a wise idea to completely trust them. This is quite important thing.

Trust is an important factor when it comes to employing people especially your family members. it will make your work easier and you can even give them big roles in the business venture if that is the case.

 

[Emmy]

Well, having a business that my relatives would also be employees is very good and this can help me in various aspects such as trust, dedication and deligence. However this is an opportunity for someone to entrust his workers since they can do it with love.

 

[Good-Person]

Trust is an important factor when it comes to employing people especially your family members. it will make your work easier and you can even give them big roles in the business venture if that is the case.

I think that many people do trust their family members and this is why they also allow them to invest money and capital in any kind of business. However, not all the people might be that supportive.

 

[Chibson]

I think that many people do trust their family members and this is why they also allow them to invest money and capital in any kind of business. However, not all the people might be that supportive.

That is actually very true. If I have a business I will try as much as possible to employ my family members. But they must have proven that they are good in running businesses.

 

[Good-Person]

That is actually very true. If I have a business I will try as much as possible to employ my family members. But they must have proven that they are good in running businesses.

Well, I am sure that there are talented people in all kind of families and this is why it is good to offer them employment opportunities to them, especially when the economy is really bad.

 

[Chibson]

Well, I am sure that there are talented people in all kind of families and this is why it is good to offer them employment opportunities to them, especially when the economy is really bad.

Yeah, it is not good for you to have a business and leave your family members behind. If there are people who are very much knowledgeable you can try to employ them into your business.

 

[Potuse]

It is going to be a difficult situation to make relatives a partner in business because it will lack proper management and control . There's absolutely no way emotions wouldn't make its way into such business. It is necessary to always go into partnership business with someone neutral.

 

[Good-Person]

Yeah, it is not good for you to have a business and leave your family members behind. If there are people who are very much knowledgeable you can try to employ them into your business.

Well, I think that there is much difference between a relative and a family member. A family member is a person who is very close to you and a relative is a person who might be related to you through your family. That's a difference.

 

[Justin]

If you don't have trust issues, there is no problem. If you make a written agreement, there is also no issue. However, if you don't trust your relatives and if you don't have written agreement, you might encounter problems.

 

[Ronny_4son]

I don't think it's a good idea to do business with your relatives unless you trust them implicitly in anything and everything. Or else it could lead to a messy situation and you wouldn't be able to do what you want with your business.

Recently we hired people( distant relatives) for the maintenance of our property. Now, we are not able to question them, when they are slacking off. They keep saying that, they are working really hard even when it's clear that.... it's not the case.

We really thought supporting and hiring people we know, would make our job easier but we regret it now. So, doing a business with your relatives or hiring your relatives, is not at all a good idea, unless you know them very well. Do you guys feel the same as well?

Having relatives as partners in a business can be a great way to combine the resources and skills of family members to achieve a common goal. That being said, it is important to be aware of the potential risks that come with having family members as business partners. Without clear communication and strict boundaries, it can be difficult to separate work and family issues, which can lead to conflict and hurt the business. Additionally, it is important to consider the legal implications of having family members as business partners. Ultimately, having relatives as partners can be beneficial, but it is important to weigh the pros and cons before making a decision

 

[tyrim88]

There is one thing every business man should understand about running a business,you should endeavor to give your business to persons that have integrity and must have proven them self over time to be worthy of such trust.

 

[Nomad]

I do not see any problems in having relatives as partners. In fact most of the big businesses we see today are actually family businesses. However, in order to run a business like this, you need a properly written contract.

 

[Abigael]

Yeah, I feel the same way. You should only hire relatives to partner with you if you trust them completely. In business, a level of professionalism should rule over the relationship you have.

 

[Good-Person]

Yeah, I feel the same way. You should only hire relatives to partner with you if you trust them completely. In business, a level of professionalism should rule over the relationship you have.

There are many people who would not like to have a relative as their partner. This is because this might possibly have an impact on the relationship between the two.

 

[Sotherefore]

There is one thing every business man should understand about running a business,you should endeavor to give your business to persons that have integrity and must have proven them self over time to be worthy of such trust.

Some family members are capable of doing that , in fact as long as you are related to them they can equally help you and your business grows perfectly but sometimes some of them may choose to misbehave along the way due to advice from bad friends and so on.

And because of this it will be very difficult for you to fire someone who is your family members.

 

[Chibson]

There is one thing every business man should understand about running a business,you should endeavor to give your business to persons that have integrity and must have proven them self over time to be worthy of such trust.

That is actually very true but sometimes it is very hard to find such kind of people. that is why everything that is being done in a business venture should be done professionally with a legal backing so that if anyone errs, the person can pay for it.