Can Married Couples Do Business Together?

Emmanuel Mukula is an entrepreneur and the Managing Consultant For Excel Training and Recruitment.

Is Business Between Marriage Mates Possible?

It is interesting to note that there are quite a good number of spouses that will outrightly tell you that venturing into business with a partner is a “NO”. According to them, it is better off to go into business with someone else, but the reality is that the best business partner you can have in your business is your spouse.

One major key factor to this is that you have children together and you both have a clear idea of the challenges that you are going through both as a family and as a business, be it financial responsibilities or any other challenges that you are facing.

With that in mind, you can rest assured knowing that your partner has your best interests at heart and whatever it is that you are trying to achieve they are equally interested.

Why Most Marriage Mated are Afraid to Venture into Business Together

As stated above, most spouses believe that going into business with a partner is too involving as they are a lot of fires to put out.

To begin with, nobody said it would be easy to strike a balance between personal and business life but couples need to learn to look at the bigger picture. That bigger picture is continuity.

There so many businesses that die with the business owner or the originator of the idea and in most cases these fail due to the lack of continuity. Fights, disagreements, and any other disputes will always be there even for a married couple whether in business together or not but at the end of the day those things will need to be set aside in order to look at the bigger picture.

There several other serious things involve other than business disagreements and fights, things like taking care of the family, taking the kids to school, and paying school fees. You can’t build an empire if all you can dwell on are simple arguments that you are taking out of context.

Resolving Financial disputes

It may come as a surprise to you but money issues have broken up more homes than cheating itself. If you are not careful with how you handle your financial issues with your spouse you may end up having problems going forward. One reason for these issues is that there is a lot of financial singleness in homes today. Most couples share everything and anything other than finances.

Finances between a couple should be open and transparent to avoid having unnecessary disputes. Always ensure that you sharing information regarding transactions of money coming in. money going out and what it is being used for as clients that owe you so that everyone is at par with each other. At the end of the day what is needed is serious transparency.

You may have separate accounts but finances made from the business should be used in a clear and transparent manner because once misused, the problem that arises from that will still need to be solved by you and this may be equated to stealing from yourself.

Key Insights:

• Mentorship is the key, there many couples in Zambia who would be willing to share their knowledge and experiences as a couple in business.
• Having your spouse a business partner, you can rest assured that they will have your best interest at heart.
• There is so much knowledge that we sit on in our homes yet we got out of our way spending money looking for the perfect business partner.
• One said it will be easy, there will be challenges and you will both need to embrace them, work together in order to see the bigger picture.

“There is so much knowledge that we sit on as men in our houses.”