Is it wise to use business funds without telling the co founder?

[Heatman]

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.


Is it wise to use business funds without telling the co founder?

Well, depending on how the business company's account is set up, there is no way you would be able to make use of the business funds all alone.

 

[Lucy ID]

Absolutely no, it's very bad and not nice. That is why the co-founder should be someone you can trust to some extent, depend on and be open to be at all times. Then if you have such person you should tell the person before doing so

 

[jay]

You can only be able to make use of a business cash when there are physical cash in the office then you can make use of it without informing the co business owners.

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.


Is it wise to use business funds without telling the co founder?

 

[Shigobad20201]

Using the fund meant for business without telling the co founder is an act of stealing and embezzlement which is very bad , before touching any money , you must have the consent of your fellow founder.

 

[Laurentta]

It's very bad to use business funds without telling the co founder. This I why many people are against partnership in business, some partners can be really annoying.

 

[Heatman]

It's not a wise decision coming into conclusions on the usage of fund without not consulting the co-founder. In all your doing they should be a transparent so that breach of contract wouldn't occurred.

Seriously in your business if you start taking money without the consent of your business partner is going to cause a very serious trust issue that might end up destroying the business relationship.

 

[jay]

It's not a wise decision coming into conclusions on the usage of fund without not consulting the co-founder. In all your doing they should be a transparent so that breach of contract wouldn't occurred.

As long as they're both co-founders of any business are equal in everything need is going to be very difficult for you to access the business phone alone and make use of it without his consent as well.

 

[Ghost1]

It is very bad idea to do such a thing. How can an employee utilize the company money for personal thing without informing the company owner? It's even insulting to ask whether you can use it or not. If I'm the business owner I will fire such an employee.

I think you've mixed up the questions. It's not an employee using his employer's fund it's more of 2 partners and one uses the fund without the knowledge of the other. It's very bad though

 

[Godspower]

I think you've mixed up the questions. It's not an employee using his employer's fund it's more of 2 partners and one uses the fund without the knowledge of the other. It's very bad though

It's a very bad thing to do whether it is in a partnership or it involves an organization. If unchecked, it can set a very dangerous precedent because he will make it a constant practice.

 

[Ghost1]

It's a very bad thing to do whether it is in a partnership or it involves an organization. If unchecked, it can set a very dangerous precedent because he will make it a constant practice.

I agree with you. That's why most partnership must operate on joint account. Money cannot leave the firm without the consent of the other partner

 

[jay]

It's not a wise decision coming into conclusions on the usage of fund without not consulting the co-founder. In all your doing they should be a transparent so that breach of contract wouldn't occurred.

Depending the way the business is actually set up is going to be very difficult for you to make use of the finances that come into the business without both parties being involved.

 

[Heatman]

It is very bad idea to do such a thing. How can an employee utilize the company money for personal thing without informing the company owner? It's even insulting to ask whether you can use it or not. If I'm the business owner I will fire such an employee.

If I am into a business partnership with you and you made a mistake of using the business money without informing me it is definitely going to ruin the trust that I have for you.

 

[Godspower]

I agree with you. That's why most partnership must operate on joint account. Money cannot leave the firm without the consent of the other partner

Yes this is very true. A partnership should operate on a joint account where both partners are co-signatories to the account. This will ensure accountability and credibility of both partners.

 

[greenie]

I wouldn't advise it because it is a severe breach of trust between the two partners. In the even there's funds missing in the business account in future, your business partner who's the co founder would be the first to accuse you and it's not a good thing. Since you don't have the sole authority to the business account, always inform your partner/co founder before touching the account.

 

[Kaffyfolla]

To my own perspective, it is a bad idea to
be using business funds without telling the co-founder is a dangerous thing and could be taken up legally, first and foremost there should be a process in which the founders have signatories to the business account, so without the both founders signature money should not be released. But generally it's not good to use Business funds without the other partner being aware looks like hijacking the business from the owner

 

[Heatman]

It's not a wise decision coming into conclusions on the usage of fund without not consulting the co-founder. In all your doing they should be a transparent so that breach of contract wouldn't occurred.

There is no way that it's right for you to make use of the business money without telling your business partner. At least, you should get approval to make use of the money.

 

[jay]

It's not a wise decision coming into conclusions on the usage of fund without not consulting the co-founder. In all your doing they should be a transparent so that breach of contract wouldn't occurred.

The truth of the matter is that is going to be very difficult for you to make use of your business fund without being able to inform your co-owner because the fund cannot be accessed without both owners knowledge.

 

[kayode10]

It is very important to carry along your business associate before you can decide to spend a company's money. You forget to know later that you have already spent the company's money without inform them can bring about distrust among everyone. When this happen it will be very difficult for them to do business with you in the future.

 

[Grandeur]

Since the Co founder is the person that was initially started the business with its important to carry the person along because two heads are better than one except such person is a dormant partner and doesn't wish to be directly involved in the business.

 

[Shigobad20201]

Dipping your hand into the business fund that's meant for taking care of the business without informing your business Patner is an act of stealing by trick and an act punishable by law.