Do you think siblings should do business together?

No Scheng! It is better not to do business with siblings.When money enters a relationship , there is a risk of the relationship getting into jeopardy, occasionally..THis is a relationship that we value and it cannot be compromised.WHy take sucha risk?

Depends .. if since young they have say a family stall or something , then the siblings will have to work something out once the parents are gone. But if we are talking about a franchise or a real booming business , then I'd say it's not really a good idea. But I have a better one .. have 2 separate businesses owned by the different siblings. Then they can get together , discuss business dealings under the sun and guide one another where they are weak at. Unity in diversity .. something like that. Or one big brother have a big business mind and the smaller sisters and brothers have franchises .. could be good too. But there must be an authority .. like in this case , the big brother holds important decisions. But then again .. like a family drama serial .. the wife who marries the big brother .. haha .. that one must not be an evil lady with a plot to steal away the family business. Hmmmm .. so if you ask me? Too complicated so better stick to individual businesses.

It depends on the temperaments and personalities of the siblings. The one advantage I see is that it's easier to know if a sibling would be an ideal business partner or not because one would know all the personality aspects of a sibling....much better than anyone else. so, it would be easier to figure out whether it will be good to work together or not.

I have never tried to run a business with my sister (my only sibling), but I am getting to the point that I am thinking it may be a good idea to try. We are both pretty sensible when it comes to business, so I am pretty sure we can make it work. She is actually a lot smarter than I am about most things, so as long as I could learn to listen to her most of the time, I don't see why we couldn't be successful. The only thing we would have to deal with is that we live so far apart from each other...

Maybe it depends on how close you are with your siblings. As for me it is a good idea to be business partners with your siblings, since I am very close with my other siblings. Right now my sister is into a small business with her husband and my other sister is helping them. The good thing here is my other sister has accounting abilities which is helping in the accounting stuff. Which is a plus so they won't be hiring another accountant. While she is helping financially, she is also lessening up the cost of the business.

I think it is a good idea to go into business with a sibling especially if each has a unique talent or knowledge that will enhance the business experience. I do suggest that although they are siblings, they should remember that it is a business and as such should be done in a legal way to protect both. Just because they are siblings does not mean that written contracts should no be created. Also, it should be clear and in writing what each one's duties and responsibilities are. While we may trust our family more than strangers, we need to seperate the business entity from the family relationship so that the family relationship can be preserved.

I think it All depends on the siblings! If they have mutual respect for each other and each brings something different to the business And they can get along. It should work.

Hi, From my point of view, it is best not to do business with siblings.It is to avoid any disputes in future. Of course, if you need financial helps, you can always approach your siblings or parents or close relatives for help. I do read some news whereby the siblings are working together ,handling the family business and ended up they quarrelled over small matters,and never talk to each other again. But of course, not everyone will face this problem. Some siblings can work so well together to build up the family business. So it is basically depend on the individual itself on how they handle their career and emotional when comes to work.

It would depend on the people. If there is a written agreement spelling everything out I guess it would be okay. If something goes wrong with the business it could affect their relationship. In that case it would be bad. They must be able to seperate business from their personal relationship. That would go for any relatives or friends that do business together.

I don't think it's really wise because business fall out sometimes and I wouldn't want it to be the cause for the family's falling out, too. But I've seen some who have made good business and are in the family so I guess it's doable. But I still wouldn't risk it if it was my family.

I think there are very few siblings that could actually make this work because too many siblings suffer from sibling rivalry, which is often the worst sort of jealousy there is. I only need to look at my husband's family (8 siblings) to see how money or a shift in the level of authority can destroy not only the relationship between the two siblings who are working together, but the rest of the family as well. I would stay far, far away from any business ventures involving siblings.

No, I don't think siblings should enter into a business relationship together. I worked for my brother for a couple weeks as a painter in his college works business and hated it. He would act like he knew how to paint better than me and would proceed to show me how when it really wasn't any different from what I was doing. I quit after a couple weeks because I hated the job. It was my first job.

I always hear of how siblings eventually fall out in some sort of way over their joint business but I'm of the opinion that it can work depending on what way's you go about the business. For instance I've considering setting up a business before and have wondered if my brother would be interested in helping me out. Going into a business together we both need to know our roles which we are best at and which we both equally good in this way we can offer constructive criticisms without ever offending each other. This could work in theory but in the real world it really could turn sour and end up with us hating each other but you never know until you've tried and tested a theory.

yes..sure it would helps..becoz if we cannot understand with whom we are with for just like abt 20 years or more than we will surely develop misunderstandings with the others frnds if we start with them...i woul go to it..if i start.

I don't feel that this is a question that can be answered that easily as families are different. I worked with my Dad for a long time, and it didn't work out very well because we would argue too often because we were too close. If I was working with any of my sibs, I think more or less the same thing would have happened. _Derek

I believe that siblings and relatives can do business together, provided they are willing to work out things between them. I mean, I've seen siblings and relatives who work together in business, done very well, and also still maintain a close relationship. It is really like having any other normal business partners outside, where you need to have the trust in between you and the other person. It's just that siblings and relatives will face one another more often than normal business partners because they belong to one family after all.

I think it depends on the siblings. Going into business with someone means you have to be able to work well in a partnership. In some instances siblings could do well in business together because they know each other so well and if they have worked together before it can help. However, a sibling could decide they can take liberties that the other might not agree with and ruin both the business and family relationships.

Some people say that you should never do business with friends or relatives. but who could you trust more than them? i don't see any reasons why siblings couldn't have a healthy business relationship together.

It depends on how greedy is your siblings. I believe I can make a deal with my siblings. I'm that sure of my brothers not back stabbing me. I'll only watch my back if I'm making a deal with another person I don't know, or even friends. I'm not that trusting when it comes to that.

I personally would not do anything business related with my brother. We have fought before and for a period in time refused to talk to each other. We are slowly starting to talk again. I wouldn't risk it. What if we had another big blow out again? That would be very dangerous if it involved money.