should i let him do the business or not?
By rhane7315
@rhane7315 (5649)
Philippines
October 15, 2011 12:55pm CST
my father gave me a capital to start my own business in order to help my little family. my better half and i are not yet married but we were living with his parents and he suggested that if i like, we can use his name in our business instead of my name. but i'm still the one who would do the hard work like selling some stuffs, look for clients that are interested, etc. also, he suggested that the bank account to be under his name instead of mine. he just gave me a deal that i would be the one who's keeping his ATM/passbook if i would agree to his idea. i know he wants to help me and i trust him but my thoughts are killing me 
because of the money that we will be using came from my father's pocket and not his father.
i would really appreciate all of your advises and i really really need that to get this one off of my head. should i go with his suggestion or not? Thanks in advance for your advises.
P.S.
i may not be able to reply to all of you but please take note that i'm reading all of your replies. in fact, i would choose a best response as a proof that i'm reading all your advises 
. its just that i'm quite busy preparing for my baby's 1st birthday. i also got a slow internet connection.
because of the money that we will be using came from my father's pocket and not his father.
i would really appreciate all of your advises and i really really need that to get this one off of my head. should i go with his suggestion or not? Thanks in advance for your advises.
P.S.
i may not be able to reply to all of you but please take note that i'm reading all of your replies. in fact, i would choose a best response as a proof that i'm reading all your advises . its just that i'm quite busy preparing for my baby's 1st birthday. i also got a slow internet connection.1 person likes this
11 responses
@secretbear (19448)
• Philippines
16 Oct 11
That's really a frustrating predicament, rhane!
If I were in your position I would be confused as to what to do, too. Did you ask your father for advice? I think you should ask him for his advice since it is his money that you will be using.
I think, if I were you, I will just explain to my boyfriend that I want to take care of my father's money. I will tell him that I trust him but I don't want my father to think that I'm giving away his money which he entrusted to me. Or I'll just tell him that my father wanted the money under my name and since he is my father and the money came from him, I do not have the right to decline. That way, your boyfriend will not think that you do not trust him since the decision is your father's. ^^
Advance happy first birthday to your baby!!! 
@rhane7315 (5649)
• Philippines
17 Oct 11
haven't asked my father yet, but i'm planning to ask him about that and also my in laws. btw, thanks for the greeting and for responding :)
1 person likes this
@magtibaygom (4858)
• Philippines
22 Oct 11
I agree with secret bear. That's the best way you can do. It's a gentle way of dealing with him. Tactfully. 
@clearwater18 (695)
• Philippines
16 Oct 11
No, do not do that. It's your father's money and just try to let him understand that you want to put it under your name. For both the business and bank account, put your name on it. But for the bank account, you can have a joint account instead if you really want to share it with him.
@rhane7315 (5649)
• Philippines
17 Oct 11
that's what i wanted in the 1st place then he suggested those kind of things. i also told him that if he want, we could use a joint account which he said is not a good idea because of its hassle. well i'm not convinced in what he says lol thanks for responding :)
@clearwater18 (695)
• Philippines
17 Oct 11
A joint account is not a bad idea at all. If he really insists on putting his name on the account, tell him that the only choice he has is that of a joint account. Do not ever put his name only on the account. It's better to be safe. You're still not married to him anyways, so it's just okay for you to decide and besides it's your father's money.
@bingskee (5234)
• Philippines
16 Oct 11
with your situation, i do not think it is the best thing to do.
but did you get to ask your partner why the business would be under his name? there has to be a valid reason. a sane person will not suggest such a thing, given the fact that it is embarrassing to have a business under your name without sharing not a penny for the capital. did he not think it sounds senseless?
as far as i do not want to be judgmental but it seems like he's taking advantage of your situation being the partner. even with papers that serve as proof that indicates that you will keep the ATM/passbook, it will not be valid in the courts.
if you are married that would surely be a different thing. but even in some marriages, these things are considered very carefully.
i trust that you be careful and consider all the 'what ifs'. 
but did you get to ask your partner why the business would be under his name? there has to be a valid reason. a sane person will not suggest such a thing, given the fact that it is embarrassing to have a business under your name without sharing not a penny for the capital. did he not think it sounds senseless?
as far as i do not want to be judgmental but it seems like he's taking advantage of your situation being the partner. even with papers that serve as proof that indicates that you will keep the ATM/passbook, it will not be valid in the courts.
if you are married that would surely be a different thing. but even in some marriages, these things are considered very carefully.
i trust that you be careful and consider all the 'what ifs'. @rhane7315 (5649)
• Philippines
17 Oct 11
we all know that when women gets married, we change our surnames and that's a hassle for us because we need to change all of our documents into our new surname, which he told me is his main concern.
@stanley777 (9402)
• Philippines
24 Oct 11
Definitely a no no to me my friend. As you have said your are living with your boyfriend in their parent's house. Since you are not married yet to him you both have no responsibility to each other as far as the law is concern.
Also the capital you will use is from your father's so it is just right that you make the decision yourself and not your boyfriend.
So as not to make your boyfriend think that you don't trust him, just tell him that it is your father's decision that you manage it yourself and in your name too.
I do hope all things work out for you and your business venture.
@rhane7315 (5649)
• Philippines
27 Oct 11
thank you :) and the good news is he let the business goes under my name and also the bank account at the same time.
@TeamCholent (2832)
• United States
16 Oct 11
If your gut is telling you not to do it I would listen. There is no valid reason everything should be in his name and the fact he is requesting that and you do all the work is a warning sign for me. If you don't want it in your name why not setup a company bank account which you both control(no checks valid unless signed by you both etc). I would thank him for the offer but state I want to do this on my own and all success/failure should be under my name etc.
Best of luck with the new business and hope everything works out well for you.
@rhane7315 (5649)
• Philippines
17 Oct 11
i also suggested that we should have a join account. he said no, because it was a bit of hassle. he also told me that he would help me do the sales talk even if has his own work. thanks for responding :)
@couchPotato100 (94)
•
16 Oct 11
If the business is your idea, and your father is funding you then the business should be under your name. Especially when you are the one that's gonna be bringing in the clients and doing most of the work. This also applies to the banking information. You are the owner of the business, therefore everything involving the business should fall under your name, and no one else. Good luck with your business and happy birthday to your baby.
@rhane7315 (5649)
• Philippines
17 Oct 11
thanks for the advice. i will keep in mind what you told me :)
@GemmaR (8517)
•
15 Oct 11
I think that you should keep the business in your name, or you might find that you're running into trouble if you get to the point that you're arguing and he would be able to use the business against you. If he wants to help you financially then that's up to him, but if he truly wants to help for your benefit then he shouldn't mind that you would like to keep it in your name because it was your idea and you're going to be the one who does all of the work towards it. Make sure that the contracts cover everything that could possibly go wrong, just so that you're not left with nothing at the end of it all.
@rhane7315 (5649)
• Philippines
17 Oct 11
ok, i will. he told me that he will also help me do the sales talk to the clients if i want even though he has a work. thanks for the advice, i truly appreciated it :)
@magtibaygom (4858)
• Philippines
16 Oct 11
Don't ever do that. You know, things change. Anything can happen, anytime. Don't put your trust too much on him. Learn to reserve things for yourself. Just say to him, your father wants to see that the business and the bank account are registered in your name.
@rhane7315 (5649)
• Philippines
17 Oct 11
i would definitely say that to him. thanks for the advice :)
@butterscotsh (1012)
• Philippines
16 Oct 11
Your business must be in your name!
You cannot trust him fully.
I know you love him but let's just be realistic here.
You're not married, what happens IF the two
of you separate ways? That will be a huge problem.
Think about all the possibilities, think
about all the worse that can happen.
@rhane7315 (5649)
• Philippines
17 Oct 11
that's what i also think and i keep joking (we all know jokes are half meant true lol) on him that maybe he has some secret agenda that's why he wanted the business to be under his name. thanks for the advicee :)
@writersolutions10 (497)
• India
16 Oct 11
Let him pursuit his heart what it says.. do stop him and he can be successful if follows his heart..
