Business Advise

[rick4]

A friend and I are 50/50 owners of a private limited company that is 12 months old. In recent months we are having significant differences in how the company should be run, how costs should be managed and specific actions needed. As we are 50/50 owners and have been disagreeing on fundamental points for a while - what suggested (business, legal or otherwise) processes are suggested for us to resolve these differences.

Thanks

 

[MichaelBurke]

It's always a sticky situation to resolve but this perhaps should have been decided from the outset.

Maybe a clearing of the air meeting should take place and specific areas of responsibility designated, sometimes this is the only way and trust your partner with his/her role.

 

[TripleA]

I agree. A meeting must take place and soon! as the business is only suffering at the moment. If differences cant be resolved i would suggest a parting of the ways before you get in too deep. You are in business only a year so not too much effort and goodwill will be lost. As your own bosses you will also be able to do what you want!