πŸ’«WHAT DO YOU THINK IS FAIR?πŸ€”

  • πŸ’«WHAT DO YOU THINK IS FAIR?πŸ€”

    Posted by Community Manager on February 10, 2023 at 4:02 am

    ⭐TWO BUSINESS PEOPLE STARTED A BUSINESS THAT WAS NOT PROFITABLE, A PARTNER COMES IN AND AFTER A YEAR IT BECOMES PROFITABLE. THE PARTNER DEMANDS 50% OF THE BUSINESS, THE VISIONEERS REFUSED COZ IT WAS THEIR IDEA. WHAT DO YOU THINK IS FAIR?

    Fon Dumse replied 4 weeks ago 7 Members Β· 6 Replies
  • 6 Replies
  • Akoneh

    Member
    February 10, 2023 at 10:51 am
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    From a financial perspective, the returns of a partnership should be shared based on the net contributions brought in by each partner.

    These contributions could be in the form of:

    -Capital

    -expert knowledge

    -Assets (tangible/intangible)

    The partner who came in should also note that the sum of the whole is greater than? The sum of undividuals (senergy: 2+2=5)

    I would therefore conclude that, the better option is to formally appraise the performance of each of the partners including their contributions. Then base share of return on these.

  • etongwe

    Member
    February 12, 2023 at 12:27 am
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    Every business has room for wider opportunities, though they started the business and a new invstestor is requesting a 50% share this might as well be a stepping stone to greater opportunities trim should just focus on buildingwhat they have .

  • Tchakam Richine

    Member
    February 10, 2023 at 4:32 am
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    To me I think the vissioneer would have accepted to the terms of the partner, know fully well that the partner has a great role to place in the business. He should also bare in mind that the business could not be functional without the partner.

  • Annie Fleur

    Member
    February 17, 2023 at 10:08 am
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    I don’t think it’s fair to give the new partner 50% of the profits since there is no where clearly stating it was solely his contribution that led to business profiting.

    This said I agree with Akoneh. To me the profits should be shared according to the amount of shares and expert knowledge contributed by each partner.

  • Irene

    Member
    February 21, 2023 at 11:30 pm
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    I don’t think it fair because we don’t have anywhere clearly stated that he was the sole reason why the business boomed. And again having an idea and you can’t grow it is no business. They had ideas but didn’t take initiative to establish it to it success until a partner came in, to an extent it fair for him to demand that percent bc is his resources and maybe efforts that brought it to success.

  • Fon Dumse

    Member
    February 24, 2023 at 6:19 am
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    I don’t think giving him a 50% share is fair it’s true the business boomed but what were the terms of the business when he joined if it was agreed from the start that he will be given 50% if the business boomed then ok but if not I don’t think so because that only thing needed for the business to boom wasn’t the money