For a new business, is it adviseeable to employ family and friends?

[Joyemmanuel]

Yes of course it is good if you are employing your family or friend through this can understand your business situation and you can pay them as you desire and also they will be honest with you and they will work honestly to grow your business.

what if they are inexperienced? Do you know the havoc that will create in the business?
And most family members would take the trust for granted and misuse the opportunity given to them by not abiding to the business rules and regulations and that might run down the business.

 

[Usama Iqbal]

I think if we start a business with employing faimly members and friends it wiil be good for us. Our family members can save money in a better way than other members. They can help to make a business successful .They easily can understand the problems which causes the failure of the business .

 

[Diamond07]

It's not a very good idea to employ family and friends into your business. If at all you consider to employ any, they shouldn't be in charge of the business's Treasury. People can't be fully trusted these days

 

[Setfragil]

Employing family and friends into your business is not a bad thing neither is it a good thing. It depends on the individual person you are actually dealing with. If you have a good history with that particular person that is, if the person is trustworthy or has been proven to be so in the past you can actually employ him or her into your business. Family and friends that is not confirmed to be trustworthy are difficult to be entrusted in your business because when they do default or steal in your business it will be very difficult for you to penalize them.

 

[Tariq Shehzad]

It is a very good strategy for employing family members and friends at the beginning of a business because as it saves you some money for external labors and employees and hence you can get maximum profit from there.

 

[ranaabubakar263]

If you have the opportunity to start a business with family members—or join an existing family-owned business—then you need to think long and hard about that decision.

 

[Defaith]

For your new business employee your family and friends to me is advisable because you have to employ people that will bring more skills to make your business grow not bringing your family and friends whereby you will not be able to control them I want him in business you have to be the boss of yourself you have to be able to control the people that work for you.

 

[Okeh]

It's a very big no for me. Employing family and friends in a new business isn't a good advice at all.

Family and friends that are employed in a business intend to do whatever they like, which most times ruin the business because they can easily get away without being punished

 

[Noor khan]

For a start up, would you advise he/she accommodates family and friends to cut cost?

It's not advisable to employ a relative family and friends to a new business. If you start a new business, you should employ a who aren't relate to your if you want the business run smoothly because how the stranger will fear you to do your work good, relative one may not do it so, Because he/she will know it will difficult for you to shacks him/her in this way

 

[Chibson]

Sometimes it is not advisable to start your business with family and friends because they may not be that competitive compared to other people. So, you have to play your card right in order not make a mistake that you make a mistake that will fold your business.

 

[Mikomataracy]

Its not advisable to employ family and friends while starting a new business because you will not be able to punish them if they misbehave and by so doing the business will be going down which may lead to the down fall of the business.

 

[Alogakho Esson]

If they family member is realizable you can employ him or her but he most possess all the quality you are looking for in a employee don't do huge mistake of given him or her chance which will crippled your business down

 

[Milz]

It depends on the family member's reputation. I will gladly employ anyone of them that's competent enough to help me run my business. But remember, family sometimes get carried away when they are not closely monitored.

 

[singlej007]

If you have a business and want to recruit or employ someone yo manage it, don't employ your relative or friend, I repeat do kit employ friends or relatives.. They will be the one to run you down... You can't fight any of them to your satisfaction because they are your friends and brothers and sisters... Use external person.

Post automatically merged: Jan 28, 2021

If you have a business and want to recruit or employ someone yo manage it, don't employ your relative or friend, I repeat do kit employ friends or relatives.. They will be the one to run you down... You can't fight any of them to your satisfaction because they are your friends and brothers and sisters... Use external person.

 

[Ryeetar]

Employing a family member in your business depends on two factors, firstly it depends on the kind of business you own and the position you offering your family member. If it involves accounting, and money management a family is more preffarable ble to avoid your money been stolen.

 

[Sotherefore]

there is nothing wrong with employing a family member or friend to any business organisation that is coming up newly but things you must consider is that the person you are employing into your business organisation must be a trusted individual whether it is a family member or Friends.

 

[Robrown83]

It is very wrong to employ your family or friends into your new business even if it is not new because no matter how your family misbehave, you may not want to take strong action against him/her and this can affect your business negatively.

 

[Abisola]

Don't get me wrong... hiring your friends and family to help get your small business going can be a good thing. Especially if they are really interested in helping you get it off the ground in the early going and are working for free or for a very reduced wage while you have little or nothing to pay out.

But we all know that can't go on forever. Either your business fails because it's not making enough money to pay the workers or the workers need to be paid more when it starts to show a profit. Either way, the situation has to change.

 

[Jomarie05]

Well it depend if the family member is competent and responsible I will gladly employ but if otherwise, I mean if the person is a lazy type I won't dare employing such into my new business. Because am just starting and I won't want anything to destroy my business.

 

[Veetos12]

For a start up, would you advise he/she accommodates family and friends to cut cost?

In economics there is a cost called the implicit cost which means the cost of things you are supposed to pay for in your business but are actually done by you or friends and family. Before you engage your friends and family in your business for you to cut the cost of things you pay for, you are expected to understand that the business needs them to be committed and dedicated before you can achieve something positive.