It is very wrong to use the business fund without informing your co-founder. I believe before co-founder came into the picture there was room for partnership. Therefore in partnership, no decision is made my one person. Sometimes taking that decision without informing your co-founder might be a good motive but the truth is that it is risky.
Is it wise to use business funds without telling the co founder?
- Thread starter maventiger
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Using business funds without the knowledge your business partner is pure deceit no matter the intentions you have. It will breed mistrust and lack of cooperation in the future between the two partners.
Using business funds from a partnership business without telling your business partner is likened to actual stealing. That is a very bad way of life and should be discouraged at all cost. If you are that strong out on cash, the least you could have done is to let your business partner know your financial situation and the need for help.
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This is one of the reason why partnership business must be handled with utmost care . You cannot possibly use the company fund for personal things without informing your partner.
These things are very likely to happen in a partnership. To prevent issues like this, an agreement needs to be signed and stuck to by the partners with regards to making decisions concerning the business.
It is very important that the partners should agree before any one of them would use the company's fund for personal means, because this is exactly what could cause a breakage.
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It will even surprise you that despite agreements being put in place, some business partners would still take or implement key side deals without involving the co-owner.
Using the company and business fund without the consent of your business partner is a very bad thing to do which can cause a rift and disagreements between associates
it is very unwise to use company funds without telling the co-founder and it looks shady as well except for a very cogent reason or the decision to spend was impromptu and very important, if not it should not be done.
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I think that when it comes to partnership business, a person should inform the other partner in order to avoid misconceptions and conflict in the business. Trust is very important.
Its not really wise I think that if you want to touched your business money then its suppose to be between agreement of both of you one person can never use the fund but expect the other parties not to be angry
Partnership business is based on trust and it will be very bad if one of the partners use the business fund for something else other than business without informing the other party. This will jeopardize the trust that was supposed to be the basis of the partnership business.
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This is very true. Partnership is always based on mutual agreement between both partners so it is very wrong to take out business funds without the consent of the other partner.
This is not the right decision and I will not encourage that because you are not in the management position of the business. Business owners must be aware of whatever are interested to do with the Business's funds.
I disagree; I think that is completely incorrect.
Using company funds without getting the other co-founders' approval may be disastrous; regardless of how hard you attempt to hide it, the truth will eventually come out and trust will be broken.
Being stolen
Using company funds without getting the other co-founders' approval may be disastrous; regardless of how hard you attempt to hide it, the truth will eventually come out and trust will be broken.
Being stolen
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There are many things you must follow when you are doing business with a business patner , since you are using the same fund , you must inform your patner before touching the fund .
No, that's not a good idea, if you are used to doing things like this you'll definitely get yourself into problem, if you want to use someone business I'll advise you to ask for his consent.
Well I strongly believe that As the founder of the business, you need to be direct and honest about your circumstances with your co-founder. It is important to be transparent and accountable at all times being the founder.
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A terrible idea, to put it mildly. How is it possible for a worker to use corporate funds for personal expenses without telling the business owner? Asking if you can use it or not is even offensive. If I owned the company, I would fire the person.
Well if you are talking about online businesses there are a lot of them right now and most people that usually go online knows about them and some of the online businesses are affiliate marketing, working on Amazon's to get paid by writing for summarising books.
Well if you are talking about online businesses there are a lot of them right now and most people that usually go online knows about them and some of the online businesses are affiliate marketing, working on Amazon's to get paid by writing for summarising books.
Honesty is the best policy , and as the co founder of the organisation , you must be running a plain business which must be open to each other and any attempt attempt touching the business fund without your co workers knowing is an act of stealing .
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