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  1. Corazon

    Corazon Entrepreneur

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    If the common for the Chinese to start up a family business where the investors are themselves - parents and children. I find it a good way of funding a business but it is open to squabbles especially when there are more than 3 children. Sibling squabbles are common in the family so the business can be greatly affected.

    But to push through with the idea, one can invite relatives as financial partners particularly rich uncles and aunts who have the belief in you. It is not easy but if you are well prepared with your presentation, I don't think they will decline at once.
     
    T J Tutor likes this.

  2. T J Tutor

    T J Tutor Entrepreneur

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    I never liked the idea of this. You are correct, it does work for some. For myself, I grew up in a successful and lucrative business led by my father and then my older brother. I never wanted to pursue business where I would have to have family as a partner and risk becoming a subordinate to a family member. I have always worked inside an industry to learn it and then open my own business and never giving up more than 40%.
     
    Corazon likes this.
  3. Corazon

    Corazon Entrepreneur

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    You remind me of some successful people that I personally know. One close friend opened up a boutique by renting a place in the commercial district although they have a commercial building near the area. Her reason is independence. How could she grow if she would always be a subordinate to her parents' business whims and caprices. One good thing with that business, although she was not really successful, was that my friend enjoyed what she was doing. Now she has migrated to the US.
     
    T J Tutor likes this.

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