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[Carl Hume-pankulis]

So I have a friend that wishes to start her own business but she needs capital.
I am willing to give her the needed capital of £2,000 for a 15% share in the business...

I have no idea what I'm doing!!
Iv never invested before, iv never ran a business, I have some spare cash that I'd rather invest in someone than be sat in the bank.

What do I do in regards to tax?
What type of contract do I need to create and how do I create it in order to not get stung or even kicked out of the business if we ever fall out for whatever reason?
Do I need to seek a solicitor?
What other things do I genuinely need to look into doing?

Any and all detailed information you can offer is appreciated.

Many thanks,

Carl

 

[Prissygirl]

So I have a friend that wishes to start her own business but she needs capital.
I am willing to give her the needed capital of £2,000 for a 15% share in the business...

I have no idea what I'm doing!!
Iv never invested before, iv never ran a business, I have some spare cash that I'd rather invest in someone than be sat in the bank.

What do I do in regards to tax?
What type of contract do I need to create and how do I create it in order to not get stung or even kicked out of the business if we ever fall out for whatever reason?
Do I need to seek a solicitor?
What other things do I genuinely need to look into doing?

Any and all detailed information you can offer is appreciated.

Many thanks,

Carl

Both of you can join together and start the business, that you are Co-owners of the business. You will register it together, everything will be stated in document you are going to use for registration. Concerning tax, both of you will calculate it among expenses and deduct it from total earnings before sharing the returns. Never do any business without proper documentation. You can get a lawyer and sign partnership agreement if you Just want to be a partner with her in that business.

 

[IB DD]

The original poster and his supposed business partner have to get to a negotiation table and decide on terms that they would use to run the business. Everything must be documented and signed. A lawyer must be part of the process as a matter of necessity.

 

[Ben Kempton]

The original poster and his supposed business partner have to get to a negotiation table and decide on terms that they would use to run the business. Everything must be documented and signed. A lawyer must be part of the process as a matter of necessity.

The original poster also discussed matters related to taxes and I think that this is something they should also discuss with their lawyer as well. In many cases, many lawyers could guide them. The original poster also stated that they do not have any kind of idea about investing in business and I think that investing in any kind of business about which you have no idea about could be really risky thing. I would suggest to gain some experience before investing in business.

 

[Gamer01]

Agreed we always need to make sure that we are able to do things properly and we can do things with much ease and effort as well actually because only that way we are going to have success from any business or activity actually indeed to be honest in my opinion .

 

[Skylark]

It is important to do your research and understand the risks involved. Choose a business that you have knowledge of and are passionate about. Do your due diligence on the business, including its financials, management, and growth potential.