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

[Emma19]

Business as in an cooperation business should be run by the way decisions of the partners so taking and spending funds of the organization without the consent of other partners is absolutely wrong and inappropriate.

 

[kayode10]

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?

If you don't want to be seen as someone who is not trustworthy, you need to inform your partner whenever you want to use the business fund. You are not the sole owner of all the phone anything since there is nothing stopping from carrying your partners around whenever you want to make transaction with business funds.

 

[Good-Person]

I do not think it is wise to use funds of business without telling the co-founder. However, when it comes to very small expenses, I would not bother my co-founder as it is irrelevant. I mean really small expenses like getting the bulb fixed at the office. However, I will certainly record those small expenses in my ledger so that the co-founder can see it.

 

[Abbeyola]

This can be possible only if you're solely the owner and founder of the business, if not, this shouldn't be done because it can actually cause a dispute among individuals and your co-founder which will affect the business

It is not wise to use business organizations funds for personal gains and benefits without telling the co founder of the business organization, it is an unethical business practices, and should not be encouraged.

 

[Asma]

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?

No its not wise to do this because without telling to founder its turn to b theft in business its necessary to do any thing after informing the founder and any other authorized person..

 

[Alexandoy]

It depends on who will use the business fund and for what purpose - if it is the general manager then I don't think it is required to ask permission from the owner of the company unless it is clearly stated in the company's policy.

 

[Tariq Nazir]

It is not a wise decision to use the business funds with out seeing the consent of other co founders. It can be very catastrophic.. You try to cover it up and trust will be lost.

 

[Damismiling]

I totally condemn this act, it's a breach of agreement according to my own view, so far you are not the singular owner of the business, you ought to carry every party entitled along before you can take that step

 

[Sincerem]

I don't think its quite right to do such, if you're in partnership with some one you should endeavour to respect your fellow and take permission before taking funds. If someone collects money when we are partnering without letting me know, I'll be upset that can lead to very big disagreement.

 

[Oluwasube]

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?

It is not not only unwise but also dangerous to use business funds that belongs to a joint business partners without their knowledge. This is a sign of unfaithfulness in a partnership and it will create loop holes in the company which may later result in dispute of interests and lack of trust.

 

[maventiger]

It is not not only unwise but also dangerous to use business funds that belongs to a joint business partners without their knowledge. This is a sign of unfaithfulness in a partnership and it will create loop holes in the company which may later result in dispute of interests and lack of trust.

I can't agree less with you this @Oluwasube. The reason most partnership end up in dispute is due to lack of trust. It is unwise to make financial and non financial related business that affect the business without other persons consent.

 

[Shigobad20201]

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?

It is unethical to use the business fund that is meant for thr company without telling the co funder, it is an act of stealing in my own opinion, since you are not the only founder, you must be transparent in all your transaction, and that's the only way you can gain the trust of your colleagues.

 

[Ayokex]

This is not a good idea anyway, my opinion though. Once we called something a partnership, every decision or activity to be taken becomes the sole responsibility of all the partners. For an entity to be taking a certain decision without seeking the consent of other investors in a partnership is a bridge of agreement and is not good for the company's sustainability.

 

[Keibah]

That is very wrong and is likely to attract punishment depending on who you are dealing with. This is why business owners are very particular about who they trust. If you need money, be honest about it. If they could help, they would help.

 

[Ridorz]

It's not a good idea, it's very bad action. Using of business/company fund without a consent of co-founder is a wrong habit that can brake and rundown a business when the co-founder later discovered. The best thing is to let a co-founder know anything about the using of business fund in case if anything happens to the money there won't be a quarry.

 

[Tariq Nazir]

This is not a good idea anyway, my opinion though. Once we called something a partnership, every decision or activity to be taken becomes the sole responsibility of all the partners. For an entity to be taking a certain decision without seeking the consent of other investors in a partnership is a bridge of agreement.

 

[Shaffy]

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

That's one of the fastest ways to lose the trust of the co-founder, and even that of other business partners.

Except it's for the interest of the business, it's a no-no. It's also why some people still prefer sole proprietorship, despite the challenges.

 

[Patrik]

not wise but dumb, using someone's else money without their permission is either stealing or lack of responsibility, which might make people lose trust in you, without doing a single action, you should take permission for it!

 

[maventiger]

not wise but dumb, using someone's else money without their permission is either stealing or lack of responsibility, which might make people lose trust in you, without doing a single action, you should take permission for it!

I agree with your comment to some extent. Even if the purpose of drawing such funds is for expansion or business related cost. It's important for the other party to be aware of such decisions so far it has to do with the business finances.

 

[Josemendez]

In the case of business that was built by two parties . Financial decisions and other decisions are made together . This is because that part of the rules guiding partnership. To take financial responsibility without the knowledge of the other is to cause trouble in the business