If it good to set up a business with a friend

[Tariq Shehzad]

Setting businesses with friends and femaily members is not so much effective and efficient as there may be aome hurldes and obstacles in tyoe of business. Because there can be no difference among the friends reagrding as an owner and employee.

 

[Sammyesx]

It is not really a bad ideal to start a business with a friend, as long as he is a trusted person and he his discipline enough. You just have to make sure the term of the business are on papers in order to avoid future complications.

 

[Saba54]

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 with the help of our friend we can establish and flourish our business because we trust our friends already and we have two matching chemistry to work together in a good environment and to cope with the difficulties in every situation because we have developed coping strategies in past together so it is better to start a business with a friend we know already so that it will be know the problem of chemistry and union while doing a business

 

[Seun4luv]

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.

 

[unhappy triad]

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

 

[Janita]

It is good to setup the business with you friend either he is your best friend or close friend.you both will be the supporter of each other and you both will help each other at every difficult stage and time.
Friends are always caring and loving but if you want to start the business of gas filing station you both need to manage the capital and things properly and equally.

 

[Profuk57]

of course it is good to start a business with your friend but it also depends if your friend have the same technical know-how of the business as you do or even more but it is also good to know if your friend can be trustworthy or be able to run the business with you without any form of suspicion.

 

[Rimsha kanwal]

If you and your friend are both entrepreneurs (or aspiring entrepreneurs), brainstorming new business ideas are probably standard issue. And when you hit upon a really good business idea, you’ll want to take that entrepreneurial spirit off your friend’s living room couch and into the boardroom. That could be a great decision! Be aware, though, that there’s a right way to go about starting a business with a friend—and a not-so-right way, too.
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If you and your friend are both entrepreneurs (or aspiring entrepreneurs), brainstorming new business ideas are probably standard issue. And when you hit upon a really good business idea, you’ll want to take that entrepreneurial spirit off your friend’s living room couch and into the boardroom. That could be a great decision! Be aware, though, that there’s a right way to go about starting a business with a friend—and a not-so-right way, too.

 

[Lyrrex]

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.

 

[Oluwasayofunmi]

Answering your question is it good to set up a business with your friend, from my point of view, there is nothing bad in setting up a business with your friend if your friend is trustworthy and has the same goal has you

 

[Axad. Mrb]

In some cases, friendships prove to be the backbone of many successful businesses. A number of big-name companies in a number of industries are run by pairs of close friends — from the fashion-forward pals who launched Juicy Couture nearly a decade ago, to the moms (and BFFs) with a passion for healthy snacks who founded Tasty.
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In some cases, friendships prove to be the backbone of many successful businesses. A number of big-name companies in a number of industries are run by pairs of close friends — from the fashion-forward pals who launched Juicy Couture nearly a decade ago, to the moms (and BFFs) with a passion for healthy snacks who founded Tasty.

 

[Shigobad20201]

Yes and no, yes in the sense that if you trust the friend and if both of you guys will be overseeing everything, but if you don't trust the friend it is not advisable to set up a business with friend because some people are not trustworthy.

 

[Jlife]

there is absolutely nothing wrong with starting up a business with a friend, as for me I have a friend that I can start up a business with and we will run the business successfully without any problem what always important is their ability to run the business without problem.
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there is absolutely nothing wrong with starting up a business with a friend, as for me I have a friend that I can start up a business with and we will run the business successfully without any problem what always important is their ability to run the business without problem.

 

[Eyiteepraise]

I think setting up a business with a friend is good only when your and your friend share the same mind and motive towards the business. If you're sure he wouldn't destroy the business with familiarity .

 

[Mandypaul]

to me I do not see anything wrong with that as far as your friend is a real friend indeed and is ever willing to help you and the both of you put one mind into the business and move the business forward then there is no problem with that and that can even be the best.
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to me I do not see anything wrong with that as far as your friend is a real friend indeed and is ever willing to help you and the both of you put one mind into the business and move the business forward then there is no problem with that and that can even be the best.

 

[singlej007]

Business partners should be business partner, I seriously did not welcome the idea of doing business with someone I'm too close to, mostly they take advantage of the closeness and the business tends to start having issues, I like doing business with someone I know but not too close to.

 

[Halexcity]

Setting up business with friend is a good idea but you have to firstly make some legal agreement. Because some friends can be tend to be funny sometimes.

 

[Felixko]

Setting up a business with a friend if it is good , yes is good yo set up a business with a friend who you can trust with all necessary documents sign with either the business moves on well or get into loss you will all stand and make it work as friends. It can also happen when two of you are committed to prevent indifferences.

 

[Erik4150]

Starting a business with your friend could be very risky. You should only do business with someone you trust. You should not make the mistake of doing it with signing an undertaking in tge presence of a legal practitioner. The undertaking will cover several factors that influences the way the business will be run.

 

[Neta Sam(Samuel Odunlade)]

Business partners are good if you can be on the same page, have an agreement, get a lawyer, understand the terms you are working with, let there be transparency between the two of you. You must keep records of what you are purchasing and selling. If you are noticing any discrepancy you can dissolve the business with your lawyer.