How to create partnership in a family-owned business?

[Good-Person]

A family-owned business is a kind of business which is managed by a family. It may be a normal thing to consider each and every family member as your partner. However, what if you do not belong to the family and if you want to form a partnership, so is it possible to do so?

 

[Ja Sa Bong]

A family members who own a business are not considered as partners, they are the business owners. They can seen as the business shareholders if it's a public or private company. If it's a partnership, it means they all contributed money to start the business in the state it's in.

 

[Henrywrites]

A family-owned business is a kind of business which is managed by a family. It may be a normal thing to consider each and every family member as your partner. However, what if you do not belong to the family and if you want to form a partnership, so is it possible to do so?

Every family owned business has got a principle that governs it, and I still can't understand why anyone would want to get involved without considering that there are consequences when you are not family. We have a family business, and all the key members are staff and have that personal experience with the rest of the members that are family too. The staff are temporary and have nothing much to say there.

 

[Good-Person]

Every family owned business has got a principle that governs it, and I still can't understand why anyone would want to get involved without considering that there are consequences when you are not family. We have a family business, and all the key members are staff and have that personal experience with the rest of the members that are family too. The staff are temporary and have nothing much to say there.

I think that a family-owned business can have a partner who may never be the family member in the first place. For example, there could be many suppliers of a family-owned business. They may be officially partners of the company, despite not being a member of the family.

 

[Nomad]

A family business is usually a sole-ownership business and is owned by the patriarch of the family. However, he might split the business between his kids, or heir parents. Those who get the share of the business are not the partners but the share holders. However, if you want to start a family business that is also base don partnership model, you can register a partnership business compleyely owned buy the family members.

 

[Good-Person]

I think that it might be possible for a family-owned business to form partnership in many ways. They could also get their company enlisted on the stock exchange and offer shares. However, they may end up losing their business in case if another person buys majority of the shares.

 

[Ja Sa Bong]

I think that a family-owned business can have a partner who may never be the family member in the first place. For example, there could be many suppliers of a family-owned business. They may be officially partners of the company, despite not being a member of the family.

A single business owner can go into a business partnership with anyone who fits in with his business plans, the same way a family owned business can enter into a business partnership with another entity.

 

[Heatman]

The only way a family-owned business is going to be interested in starting a partnership with another entity is when they are finding it challenging to finance and manage the business successfully.

I have never really been in a situation where by my family business is going to be interested in looking for a partnership with another venture.