Response no lees than 200 word limit.One of the most basic principles in Finance is to separate emotion from facts when it comes to decision making. This is difficult to begin with when it comes to customers, vendors, and others where no real relationship exists beyond the business. Throw into the mix the reality of a family dynamic and well…I am not sure an unbiased decision is truly possible. For me personally, I separate family and business. I have seen where our owners have hired their children or other family members and how difficult it was to fire them. I would not want to be in that position. Also, as far as borrowing or lending money, well my rule is that I give the funding if I can, but I consider it a gift and not a loan. This is not to say that family businesses cannot succeed, just my personal preference. Thoughts?Family should be separated from business because both are totally different environments. iffamily is mixed with business then business decisions cannot be discharged full well. Familymoney will…
Basic principles in finance
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