Again there is a risk/return relationship.
If you are running a business with partners or investing in a business it’s important to do your homework.
It is important to establish ground rules when you are involved with other people in small business, particularly around an exit strategy if needed.
There are many important aspects to the ultimate success of a business investment. Items such as a written business plan, accurate, relevant and regular reporting, and staff management are all important concepts to have a handle on.
You can receive a solid return from your business with careful planning and ongoing management.
If you are involved with friends or family, we suggest you treat each other on a commercial basis (for example, put any loans in writing) or relationships might be at jeopardy.