Your parents, brothers, sisters, distance relatives, old school mates, your social club and church members, anybody who is close to you may support you when you want to start your business. But be careful, make sure you detail out the conditions to the assistance they are offering you in writing to avoid future argument.

Friends and relatives may think that because they contributes part of the capital for your business, they are entitle to have a say on how the business should be run. Let them know if it is so or not, don’t leave them in any doubt about their status as far as the business is concern.

When are they likely getting their money back? Is it with interest? If they are to play any role in the business, would they be paid for it? If yes, how much? Putting these things in writing will eliminate any wrong notions that the people giving you assistance may be habouring.

You don’t want your relationship to go sour because of money. So guard against it.

till we meet again