Should siblings or close friends become business partners?

A NETIZEN has observed that siblings becoming business partners is not a great idea given the potential for conflict.

She cited an account of feuding siblings at a wanton noodle stall to underline her point. The post by Yi Ling Ang on the Entrepreneurs and Startups Facebook forum generated plenty of comments on the topic.

Quite a few were in agreement with the poster’s sentiments.

One netizen highlighted the difficulty in separating the private from the formal business affairs in such arrangements.

Others lamented the loss of family and friends over failed business relationships, asking if it was worth it.

One netizen claims that such family feuds are the reason for similar sounding trading names for businesses in the same industry, especially that of FnB (food and beverage).

Others pointed out that there were many success stories involving family-run businesses.

One netizen says the ROI (return on investment) of working with family members make it worthwhile and why so many turn to them first instead of outsiders.

Some netizens said it was a question of mindset rather than familial connection that is at the heart of the issue. They seem to suggest professionalism is required for any business to succeed and not let emotion take over.

Some reckoned that it all was dependent on the situation.

The many and varied comments suggest that such business arrangements can be complex and are primed for conflict but that does not necessarily have to be the case.

What think you? – Feb 19, 2024

Main pic credit: HaltonParents

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