If it good to set up a business with a friend

[Godleads1]

You should know your friend i.e. what kind of person is he, what can he do it can't do an all the likes. After this is known, you would be able to know if you are to go into business with him or not. This will be followed by complete documentation of the agreement before a lawyer.
[automerge]1611933381[/automerge]
You should know your friend i.e. what kind of person is he, what can he do it can't do an all the likes. After this is known, you would be able to know if you are to go into business with him or not. This will be followed by complete documentation of the agreement before a lawyer.

 

[Victor-t]

It's dangerous if the friend value money more the lives. A lots of people lost their lives and properties to doing business with friends, they call it partnership business but, it's partnership in crime business. Although, some escape that, but the percentage of those who will enjoy it is low compared to others.

Actually if it good to set up a business with a friend I will like to set up a business with a friend that is trustworthy that I can confide and that also have a better knowledge about the business..

It is not too bad because in this Life we don't have to trust anybody but we just manage with God faith .but if we start business with our friends it is not too bad but if we have noticed some bad characters from him we have to use our sense to separate with him it is because is dangerous for us.

 

[Richard92]

It is good to set up a business with a friend, but you must be very wise enough to trust the friend, Make sure he is not a betrayal and whether he has good purpose for the business. However if you have your own capital is better to start alone to avoid problems and complications.

 

[Robrown83]

It is very delicate to join business with a friend even your family because our attitude towards some things are different. You may not love, he may love it and the Bible says" the love of money is a root of evil". Anybody that love money can do anything. What am I even saying,who no love money, we only love it more than ourselves. I will advise you to still continue saving your money until you can do the business by yourself.

 

[Shahzad Ahmad]

I think it is best. But your friend must be trustable and if you decided to undertake together with friends it is necessary and almost obligatory to establish a verbal, written, notarized agreement. Partnership has always positive effect on any business, you will get profit as well as experience from it.

 

[Sariana23]

Not at all, there should always be legal and notarized documents. Everything at first flows satisfactorily in a partnership, but it is not known what can happen over time, since money has no friends or family, it is better to avoid future inconveniences. All written with its clauses and agreements signed and endorsed.

 

[Shaffy]

I want to setup a gas filling station with my friend. Is it good to setup a business with ones friend without signing any documents and formalizing it with a lawyer

Partnership in business has it's advantages, and also it's disadvantages.

You may want to check to see which will be more for you if you go along with it..

Personally, I'm against it because of problems it causes between friends.

 

[Bilal0087]

I want to setup a gas filling station with my friend. Is it good to setup a business with ones friend without signing any documents and formalizing it with a lawyer

Yes off course dear, there is no issue to start your business with your friend. Instead I consider it a wise step, because in this way you both can work more effectively and wisely for the proper management and progress of your business.

 

[Tariq Shehzad]

I can't say clearly that I would be valuable and useful to start a business with your friend as it depends on the nature on your friends and their honesty.
If he good and well by his nature and honesty then you can do that.

 

[Folaham]

There is nothing wrong in setting up business with friends. Whether close friends or distanced ones there must be a written document where all terms and conditions will be clearly written and backed up by law. By this you get to protect yourself incase of any issue that may arise in future

 

[Erik4150]

There is nothing wrong with starting a business with a friend just as long as the friend is brilliant and trustworthy. Some of the world's most successful companies were started through partnership between friends.

 

[Chizfab]

It is more like a partnership business and it's not a bad idea. But before you go ahead, no matter how much you love and trust this friend of yours, ensure you draft out a legal document or contract that states how the business is going to be run in term of income rate for you two, risk shared, shares and rights.

 

[Shannn11]

It is not bad to have a business partner that's also you're friend. It is better if you have the same goal and mindset, but if your friend only want money and value it more than anything, then that is not good. It's better to just not have a business with that friend because it may lead to bad things.

 

[Abibatabosede]

I don't buy the idea of setting up a business with a friend because the world is full of evil which doesn't allow us differentiate between good and bad people. It is better for for you to stand on your own and established.

 

[singlej007]

My brother conbined business with a partner is quite difficult when the business get to the middle.. It is only sweet at the beginning. If you have money do your business yourself or gather your money and do business.

 

[Briangsam]

No matter how much you trust a friend, never get into business with anyone without the proper legal backings. Even after that, still find someone you can trust t monitor things when you are away. Humans can not be trusted really.

 

[Aminat]

It is not bad to set up a business with your friend but there must be legal papers signed by you and your friend cos your agreement with your friend might later cause an argument.but if legal papers are signed there would be no argument.

 

[Nicklas22]

It's very good and nice to start up business with a very good friend of yours, if both of you are thinking the same way and you both trust each other
Starting up a business with your friend is very good because you both have already know your capabilities and the duties within the business will be shared very well
Starting up a business with a friend is also good when you both are in the same field.

 

[Suba]

It is very good to set up a business with friends, but if you do it without signing any documents, formalizing with a lawyer, of course you will misunderstand your friends later, so it is better if before doing business partnership with anyone you should make a clear agreement regarding duties and profit sharing.

 

[Mikomataracy]

Its very good but need to be very careful because some friend are not trust worthy at all.
Before you can start such a business you need to reach an agreement so that you will not blame your self if there is any breach in contract or agreements.