Partnerships and family

Filed in archive Partnerships on February 1, 2008

Are you thinking of going into partnership with family members?

We have talked about the down sides of partnerships and I generally recommend using the corporation form of business instead of partnership. However, if you truly believe that a partnership is the best idea I found a video that talks about it.

The video does a good job going over the pros and cons of going into business with family members. One thing I would keep in mind that is if something goes wrong with the business, then family events can be a nightmare.

The video is only a couple of minutes but does have some great information.