Would you like to prefer a Business Partnership with your "In Laws"?Good or Bad?

I'd call it bad and I am speaking from personal experience! I started a business with my brother in law (wife's brother). Though 10 years younger than me, the fellow had more knowledge in that field, and I let him take the lead. Over some time I noticed that the people in between seemed t be cheating us and I confronted them when my cautions to my brother-in-law did not work. Well that did it, I had no peace, suddenly, all my in-laws and even my wife started advising me not to interfere and leave matters to my bro-in-law. A few months later what I'd feared happened, all our money was stuck. I practically turned in a very poor man from a reasonably well off one. And this bro-in-law and his family who did let me take matters in my when I sensed that they were going bad, well they'd assured me that they'd make good any losses that were suffered, but when it came to payment time, they refused to make good the losses asking em if I'd been sleeping while the business was being run down by my bro-in-law!

NO .. too BAD.... if u have heard familiarity breeds contepmt. what happens is when ur into business it is dealing with direct money and if somsthign goes wrung then u cant say a word coz they are ur relatives and u start feeling bad bout it and u start hating them from inside .. relations jus get spoiled when u try to involve them with money

I think that I could have a business partnership with my in-laws. We have not because neither of us have or had our own business.

Business is business regardless of whether the partnership is with in-laws or not. It would have to be a written, legal, binding contract protecting both sides.

No I do not think that having a business partnership would be good with any in laws, I think that this could ruin a good relationship with them as you never can tell if the business would be successful or not and I would not like to jeapodise my relationship with them.

Better keep away from them.There is openness in their actions.

While I feel it all depends on the kind of inlaws you will be dealing with, on the other hand I think bringing inlaws close to your business can be very disturbing. You know, inlaws are people you can not subject under strict business regulations-there is usually a soft spot for the inlaws, you dont want to hurt their feelings lest you hurt the feelngs of your wife inadvertently! So to avoid any bad feelings around you, if you want to start a business, start it with people you will deal with without fear or favour!

I personally am not for having any type of business relationship with in laws. Actually this is a relation based on love and care and bringing money in this relation is likely to create tensions in the system and would lead to sour relationship in the long run.

Oh lord no. Aside from my husband... I don't ever want to go into a business relationship with ANY of my relatives... blood or in-law. Seriously, I don't think it would ever be a good idea for ME or my husband to do business with family.

well sir iam too small to give u any advice but still i have seen that wid my father that he has started a businness(it was a small,just buying a plot) wid his elder cuzn as his cuzn was elder so he cnt say anything ti him,but my father cuzns always said bitter words to my father.it is a long story.......... but after that my father didnt made any mistake having or sharing business wid his inlaws and my mother also adviced him to not to do like this!!!! well u shud nt take risk coz nowadays blood is thinner than water. well yeah if u trust eachother and r having so gud relations the ........its okay well sir i am just in matric,its my own personal opinion so...........may b i am wrong but.....i think its right

I will never recommend it Aliasad! I have seen many families who suffered that dilemma. A very happy life can turn around in a while. Don't mix the business & personal life. Thanks for discussion :D

Any time you get involved into anything that is money related with family...it can be very risky...feelings can get hurt and families can be torn apart.. I would never go into business with any of my family..it just would not be worth the risk to me. However, there are many businesses that are owned and operated by families and it has worked well for them; so I guess it would depend on the individuals as to whether it would work or not.. Sorry that I could not be more helpful...

i think any business partnership can be successful.. either it's among in law or with relatives or with friends.. why not? it's just the matter of how good a person in handling their business.. nothing to do with the inner relationship.. don't you think so? . i think business problems should not be an obstacle... why do you put your business over your relationship with your in law? i think i can let go all my business if by doing so.. i can save my in law from debt and so on.. what most important is that we're still maintaing the relationship.. that's how i think :)

I have always said never mix business with family or friends unless its a family business for genreations but even then its hard to to deal with from ecperience. my family has its own business started by my grandfather and now my father and uncle run it, they are usually at each others throats but hey thier brothers at the same time so its natural. but mixing a business with your "inlaws" might not be a great idea. if things go bad nad hopefully they dont but if it does tensions could build up and the people in the middle of it all could end up defending thier side of the family cause its only natural they would and then after all the fighting and arguments it could eventually lead up to divorce..

I think if both parties can agree to a business partnership then I believe that this is possible. and it would also depend on what kind of business you would venture into and the terms of your agreement. But I think it's possible if both parties can agree to keep business in the office and not at home and refrain from being talking about business at home or family gatherings. Also if you can agree not to blame the other if and when problems arise in the business

Well friend, i feel that if the relationship between You and your In-laws are good then i think there wont be any problem. I would say that you will be on the safer side if there is any loss in the business because you are their Son-in-law ;P. Anyway, as you said, if the legal formalities are proper and if we have good understanding with them, then there wont be any problem in starting a business :)

Yes I believe it possible that business partnership can be very successful among inlaws of both, but it will depend so much on how both of them trust each other and how much idea they have about the business. Thanks and have a nice day.

Partnership means dividing every thing in business.According to me one should do work he is capable off,partnership is not a true aspect.I have not seen any partership working till the last.Partnership does not work with real brothers how can it work with inlaws.Hence partnership is not sucessful amongs the inlaws.

it is good to prefer a business partnership with your in laws,doing a business,there are many risks in the way,if you run a busniness,and unluck to fail,when you distribute your estate,if you are in law to be a business,there are little dissension to distribute,it is ture for you and your partnership.

Hello, aliasad,I don't like to have a business affaire with anyone of my family. You know that if anything related with money the relations will be hard to handle, especially you are a family! Somebody one just told me that do not do business your friends! That's true! It's always not a good idea of you doing business with anyone of your family.