How Do You Enter Into A Business Partnership With Your Boss?

Hello Elders, ebu nisaidieni na mawaidha nisaidie huyu rafiki yangu.

The guy alijiuzulu kutoka kazini after working for 3yrs - kutafuta greener pastures. Bazu wa hii kampuni hakutaka aishie because of his work performance, hakumpatia counter offer though. But alimshow that he’s welcome back to the company.

He had contract disagreements with the new company after working there for like 2yrs, and so, he quit!

With no work for 3 months and with bills to pay, he went back to the previous employer, took him back but designated him to a position a lower than his previous one. Akakubali tu because he had no option.

Now, the friend has an incredibly great business idea but is constrained financially. He cant get finance from the banks due to CRB issues.And sees the boss as an option to get financed.

How do you enter into a business with your boss?

What are the pitfalls to this idea?

Is it worth the risk?

Is there risk to this idea straining their relationship?

Your advice Wadau.

Don’t think about it

Is that even a question. Its like getting into business with a MWK,someone’s going to get shafted… YOU

Why would you even think it is possible? Your boss will hijack the idea for “the good of the company” and the best you will get is a promotion to your previous position…or the sack.

Get a document drafted by a lawyer. Shouldn’t cost much. Especially the financial aspects. It’s a good option to go into business with work associates. Relatives are a so so.

He should set up an official business and work as a contractor for the company where he is employed. In short, he should not in his private capacity with the boss but via an LLC. That way if shit hits the fan, none of his personal assets can be confiscated and he can sue for unfair dismissal if the boss kicks him out

Does he want to get into a partnership or just needs financing?

Why do we graduate? Reasoning be 15k miles away!