Finance Opening a business with capital from the family

[Alexandoy]

This style of capitalization is common to the rich Chinese families in our country. It is in their culture to provide full support to the business endeavor not only of family members but even with relatives and friends. Maybe that kind of support is a factor in the success of many Chinese businessmen.

Anyway, the topic is a business that is capitalized by the family. When it started growing the owner (whose name is registered as the sole proprietor) would be irked when a sibling would intervene in the business. Adding insult to injury the mother would give advice on the appearance of the store while the father was always a listener. In the course of the business development the owner had to close shop and to start up a similar business with his money as the capital. No intervention anymore.

 

[funmi]

Just as have said in many of my posts that like itself is a risk. Many people think they can just open a business without having a risk factor attached to it. You must be able to bear the risk and probably learn to control it too. You can't take away risk when planning a business. The is bound to rise and fall.

 

[funmi]

In Nigeria, opening a business with capital (money) from the family is nearly impossible except you want to dedicate the business to your family or tagging the business as a family business. You can't be a sole owner of the business because many of your family members who contributed to the business will definitely want to share in the profits of the business with you, they may be passive in their contributions apart from money but when it comes to sharing the gain,they will want it to be shared equally.

 

[Sotherefore]

I always like to do most of my things with my own capital because I don't want my financial success to be tied down to anyone,these people you are opening a business with might actually be the one that might come against you in the future, it is always advisable to focus on your goal alone .

 

[Chibson]

In my country there are supportive families when it comes to building of business and developing your career. It is better to sorce out funds from your family members before venturing into any business instead of going into loans. But before you do this make sure the family member is trusted and can be supportive if anything goes wrong with your business.

 

[Mika]

If you are planning a small-scale business or home-based business, you might take help from your family. In my home country, a lot of small businesses are funded by the family. It is very common to see a father funding his son's business, a brother funding his brother and sister's business. Even the big business houses were also once funded by the family.

 

[Augusta]

This style of capitalization is common to the rich Chinese families in our country. It is in their culture to provide full support to the business endeavor not only of family members but even with relatives and friends. Maybe that kind of support is a factor in the success of many Chinese businessmen.

Anyway, the topic is a business that is capitalized by the family. When it started growing the owner (whose name is registered as the sole proprietor) would be irked when a sibling would intervene in the business. Adding insult to injury the mother would give advice on the appearance of the store while the father was always a listener. In the course of the business development the owner had to close shop and to start up a similar business with his money as the capital. No intervention anymore.

For me I don’t think I will give room for any intervention even if I was funded by my family members. I will let them know from the onset that it is no family business. they just helping to start me up and tha’s it. I like their contribution but that’s it