Going into business with a friend, wise or not?

[Hades]

Its actually a nice idea you can't actually start a business with your enemy you start with your friend so you just have separate business from friendship you no what you want to achieve with your business so you work towards it

 

[Favour67]

Going into a business with a friend is actually risky to say the truth but if you know and trust your friend well, both of you can set up a successful business and grow it well by putting both efforts into it.

 

[Shayo]

There is nothing bad about having a friend as a business partner. But the friend must be someone you have a life experience with, not a friend you just met within days, weeks, or months. You have to be very careful in dealing with your friend being your business partner because money can cause a fight between two childhood friends and scatter the relationship.

 

[Holluwaphemmy]

I can't really say but if the friend is well trusted you guys can easily pull your profits together and get the maximum profit available in the business

Post automatically merged: Dec 22, 2020

I can't really say but if the friend is well trusted you guys can easily pull your profits together and get the maximum profit available in the business

 

[joy101]

Going into a friend is not proper because business is not what you can run with a friend, you have to plan your by yourself not with friends, any business with friends can't growth so you have your business by yourself

 

[Golden_ear]

Doing business with friends is good, but of you must have the same focus and determination to make the business grow. Time management is an important factor to consider when doing business, so there fore both of you must always keep to time and always be formal with each other during working hours.

 

[Eminence]

Its, Also business is a legal entity that stand out and friendship doesn't come in to play while on it.

 

[Presido]

I can' say there is nothing wrong with going into a business with your friend but at the same time, it can be a risky idea because a mere misunderstanding during the course of managing the business will cause a lot of havoc that will ruin the business and friendship

 

[Patrik]

i personally wouldn't need a partner if i'm able to do everything myself, partnerships aren't a success's guarantee and you end up in serious problems if you both disagree about something, not only your friendship ends, but your hard earned invested money and effort will end too

 

[Aqsa Shahid]

In my opinion, it can be helpful if your friend is fully trustworthy & you could blindly trust on him. If you both remains equal in your business investment & profit, then it will be very fruitful for both of you.
But on the other side, if you both have any little doubt on other or can't trust blindly, then skip this idea to work together.

 

[Stardex]

It depends on the kind of friend and if the person is of the same mind set as you are. You cant go into business with somebody you cant trust. But if everything is ok, a friend is probably the best choice to go into business with.

 

[Richard92]

It is okay going into a business with a friend when there is trust, but sometimes it is very dangerious when envy comes in play, your friend might feel he invested more so he must have more share, or he might feel in the area of the business goodwill and day to day running of the business he is more active and he will see it as an opportunity to have the business to himself. At this point your life is at stake.

 

[chicnthin]

I'm personally against the idea of starting a business with a friend. Challenges will come and if not handled properly, there's a high chance that the business might fail. There will come a time that there will be differences from your decisions and end up blaming each other that might ruin the friendship. But if you trust each other, then you should go with your gut.

 

[Akinwale701]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

Do not go into a business with anyone if you don't know anything about the said business.

 

[Alexandoy]

I had a bad experience with a friend for my business partner. The only advantage was that our business was under my name as a sole proprietorship. My business partner was my long time friend since high school. He registered his own business when my business was already doing great. He pirated my major clients. That is why my usual advice to newcomers in the business industry is to register the business as a single proprietorship so it is all yours.

 

[Tariq Shehzad]

You can do business with your friend on sharing basis or partnership. And it will be only valuable and profitable for you, if your friend is honest and fair with you. Otherwise, he may deceive you in the business.

 

[Adexgrace]

Your type of friend will determine if you can do business together or not. If your friend is knowledgeable and skillful such person can fit in as a business partner. It is always a wise decision being in business with a trustworthy friend.

 

[Kaindio Agnes Wanja]

I am thinking of going into business with a friend soon, as we have some cool ideas for a business. But, my other friends keep telling me not to go in with a friend, as if anything does go wrong, it could result in a friendship broken. I'm thinking of pushing forward anyway, and seeing where it takes us. I have faith enough to believe we'll continue to be friends even if problems come up.

Anyway, what are your opinions on this?

Well,partnership in business is a cool idea provided you know that friend of yours well and he is someone you can trust.
You should know his interest and capabilities when it comes to business in order for it to be a success.
Another important thing you should do is to sign a contract where business terms and conditions are indicated and you should all adhere to.
With those necessary signed documents,then you can go ahead and start the business

 

[chalcedony8]

going into a business with a friend is not wise at all, in fact it is not advisable, it also look as if it's the best idea before one starts but as time goes on, you will begin to discover it's very dangerous, making your friend your business partner is still advisable but starting a business with them is not advisable at all, one has to think about it properly before doing so, even if the friends didn't get into any fight during there own time, what about the children that will be taking over, one needs proper thinking.

 

[Nma]

There is nothing wrong in going into business with your friend as long he is a worthy business partner and won't want to bank on your friendship to mess up the business...... He should be honest, trustworthy, disciplined and diligent to avoid problems in the long run