Financial Responsibility: How should it be shared when couples runs a family/joint business?

[Hena101]

This is very serious decision to be taken because it can offends someone, but i think it should be giving to a trusted person to handle it.

 

[Setfragil]

In most cases, it is understandable. Afterall, if you are working hard, your better half will surely support you. In rear cases only there are some sort of disputes.

The society has made people believes that it is the husband that should bear the highest percentage if not all in sharing financial responsibilities in the family if they both own a business together.

 

[Ralphjoe]

In our culture a business that is equally owned by a couple (in case of single proprietorship) should not be an issue when it comes to management. Naturally there is intimacy between the husband and wife that they can easily resolve who should handle the steering wheel of the business. When I had my boutique I was manning the store during weekdays but my wife handles it during weekends when she has no job. With the revenue, of course, the consideration is OURS which means it is hers and mine.

This is how the management of the business and home should be as once a man and a woman becomes and husband and wife then they become a a couple which means that they should be doing everything together taking every decisions for the home together.

 

[Snazzy001]

Since it is a joint business and they are all entitled it including the risk and the good side of it, we are all equal when it's Business Time. The matrimonial home, your husband is in charge

 

[Setfragil]

Sharing family financial responsibilities depends on the agreements and arrangement between the couples and sometimes depends on the money and efforts each partner contributed to the business.

 

[Sotherefore]

Sharing family financial responsibilities depends on the agreements and arrangement between the couples and sometimes depends on the money and efforts each partner contributed to the business.

If it is a family business then all business responsibility goes the manager of a business, it depends on the type of family but I do not mean the extended family.

 

[Mayox25]

There should be understanding between couples that runs business together and who also has a joint purse. They should agree on the amount that will be set aside to run the family.

 

[joy101]

I think times of joint business the couples should try handle their business as normal, never to have any financial problem in the business.

 

[Chibson]

I believe when couples want to venture into a business, they need proper planning because the gains is definitely theirs. It should be equally shared.

 

[Setfragil]

I think times of joint business the couples should try handle their business as normal, never to have any financial problem in the business.

There is no way two people will come out to establish a business that involves money and not have issues at one point or the other. Before couples will venture into any business, there must be agreements on how to share responsibilities in order to avoid future disagreement.

 

[Kvngsammy]

It's dependent on the agreement between them both but I think the best thing joint responsibility - so the stakes should be almost equal depending on their equities in the business.
Also I feel they should be paid salaries even if the business is theirs. That will help them

 

[Setfragil]

If it is a family business then all business responsibility goes the manager of a business, it depends on the type of family but I do not mean the extended family.

When a family runs a joint business, the couple most times are the manager and the profits will be shared according to the money contributed by each partner or by the agreement between them.

 

[Sotherefore]

When a family runs a joint business, the couple most times are the manager and the profits will be shared according to the money contributed by each partner or by the agreement between them.

What is the need for the profit to be shared between a husband and wife when they are the one that has the business, naturally they are one and they do not suppose to share profit.

 

[Setfragil]

What is the need for the profit to be shared between a husband and wife when they are the one that has the business, naturally they are one and they do not suppose to share profit.

You are not the one to decide how a couple will share their profits. Being husband and wife doesn't mean that there won't be boundaries when it come to sharing business responsibilities.

 

[Richard92]

The couple's should share responsible together as they jointly run a business firm. I don't see any fringes that a man takes financial responsibilities alone. Both are meant to contribute immensely, that's why they are called couple.

In the Africa setting the man is always seeing as the breadwinner of the family so if it comes to financial responsibilities I think it should be shared 70 30 among couples the man he wanted to 70% while the woman should only 30%.

 

[Ralphjoe]

Hear alot of women saying that a man should maintain his headship in terms of financial responsibilities even when running a family/Joint business as a source of income. What is your opinion in this regard. Thanks.

For me I really support joint business for the family so that it will be very easy for the business to be run as the contribution of all family members can make that business to expand as we have seen in several examples of well-established businesses that are owned by a family.

 

[Sotherefore]

You are not the one to decide how a couple will share their profits. Being husband and wife doesn't mean that there won't be boundaries when it come to sharing business responsibilities.

Yes there is no need for any boundaries when they are sharing money because they are one and it is always advisable that they all do their things in one mine without such boundary.

 

[kayode10]

I think it is good for the both party to sit down and iron things out. They have to consider the work both of them are doing and they should share the expense accordingly.

 

[Sincerem]

In the Africa setting the man is always seeing as the breadwinner of the family so if it comes to financial responsibilities I think it should be shared 70 30 among couples the man he wanted to 70% while the woman should only 30%.

That's how it should go, even though the man is the breadwinner. Some woman aren't sharing responsibility with their man, they are shifting 100% responsibility to the man.

 

[Setfragil]

Sharing financial responsibility depends on the agreement between the couples before they established the business. They must have a profit sharing ratio or any form of sharing their profits.