Going into business with a friend, wise or not?

[Alogakho Esson]

Going into a business with friend is wise when there is they require legal backing of the business spell out terms and conditions of aims and objective policy and factors that can create financial literacy program growth and productivity

 

[Kelly5]

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?

Going into business with a friend is a good thing because you might have known him or her pretty much than going in with a stranger. Regardless of the fact that this is your friend, you must have a drafted contract of of this partnership before commencing any business with your friend.

Post automatically merged: Jan 30, 2021

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?

Going into business with a friend is a good thing because you might have known him or her pretty much than going in with a stranger. Regardless of the fact that this is your friend, you must have a drafted contract of of this partnership before commencing any business with your friend.

 

[Kelvin7656]

When you're starting a business with a friend, you have to make sure you're at the same stage of life and can put in equal amounts of work. If only one partner puts in the majority of the work, it could lead to resentment and ultimately jeopardize the relationship.

 

[Adetayo100]

Don't start a business with a friend just because you like each other. Of course, you and your best friend get along really well you wouldn't be best friends if you didn't! Commit to that transparency even before you start your business

 

[Mujahid12]

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?

If you want to start a new business, then I think you should go into business alone because in partnership business you can not get much profit because some friends are also such that they can cheat you in the shape of good friend.

 

[Lyrrex]

I don't think I can invest my money in a business with a friend to avoid issues, from experiences have seen how money turn best of friends against each other although there have also been good testimonies of business with friends that ended well.

 

[Alogakho Esson]

Going into a business with friend is wise when there is they require legal backing of the business spell out terms and conditions of aims and objective policy and factors that can create financial literacy program growth and productivity

 

[EMMANUEL]

Going into business with a friend is not a worse idea but having a friend that will be willing to assist whenever the time arises is the main key. There are many friends ut there who are willing to support or even partner but don't have a fund to engage why others have a fund to partner with but don't have an idea to implement on.

 

[Sucrelove]

Is not a bad idea to have or run a business with a friend especially when the both parties have same business ideas

 

[Felixko]

My friend had an idea about a lucrative business which he thinks we both can manage it well therefore he introduced me to it but it need we both to contribute exact amount of many being equally so we did and later there come a problem because we have started earning a huge amount of profit . he said because he brought the idea his percentage should be than me but I refuses the idea and they the business started to corlapse . is good to to work with friends but ensure is a transparent one not the greedy type that want everything to he theirs .

 

[Donolatunji]

It's a special experience to start a company with your best friend, because you get to share your vision and milestones with the person closest to you, says Jagadesan. "As you run your company, there's no denying that you'll have moments when you feel unmotivated or lost.

 

[CeeJase]

Friendship and business partner differs greatly. They stream from different line. It's only advisable when you two generated the idea for the business but inviting him to already startup plan is way out of the league.

 

[Life drama]

Everything about life being it every buisnesses, jobs.surround yourself with loyal friends and families because it will go a long way in your success and happiness,doiya buisness with your friends is a great thing to do because you must known each other well and it will go fast.

 

[Sammyesx]

Going into a business with a friend is not an entirely bad ideal. Just make sure such friend is a trustworthy person, so as to avoid future complications, also whatever both of you agree to do, it should be on paper.

 

[Olahab]

When you're starting a business with a friend, you have to make sure you're at the same stage of life and can put in equal amounts of work. If only one partner puts in the majority of the work, it could lead to resentment and ultimately jeopardize the relationship.

 

[Sariana23]

If you have an integral and sincere friendship, and you also have enough confidence in your friend, you can do it. Very few cases are seen where friendship is maintained in an associate business, but it is possible. I recommend that even with the close friendship that may exist, you must carry out the legal procedures with its clauses registered in a notary.

 

[Mandypaul]

I don't see anything wrong with that as far as you are running the business with a trusted friend because there are some friend that can actually turn against you in the business but make sure you deal with trusted friends to avoid regret, or you better start alone.

 

[George10640]

A friend is the best person start a business with so long as you don't take the friendship into the business. It is good having goals to guide you and go as per the principles you have set.A friend whom you have the same objective with will help you a lot achieve your goals as I have experienced that too.Friends usually help a lot more than those close relatives you have .It is just like dating or marriage to your best friend is recommended.

 

[unhappy triad]

Can be great team especially if your friend is reliable. I have seen friends rise together. I have also seen betrayals too. What really matters is getting all transactions documented and mafe formal.
This way you reduce setbacks, conflicts or disputes.
Everyone should get involved and roles should be assigned. It nothing new I suppose

 

[Nurudeen]

My sincere advice I'm going to give you is that you shouldn't go into business with a family talkmore a friend. These kind of relationship in business can ruin both the business and the relationship of eventually one of the best partners or friend in the business are not meeting up to expectation and it's showing negatively in the part of the business