Going into business with friends and family is a popular route for many entrepreneurs and for good reason. You already know each other’s strengths, weaknesses and passions, plus the likelihood is that you came up with the business idea together so you are both hugely invested in it.
Two years ago, a couple of friends quit full-time employment to follow their love of motorsport and launch a go karting business with a professional spin – it's on track for a turnover of £2m this year.
Say what you will about your product, but the consumer will be more willing to trust their friends' feedback than a marketing campaign – here's how businesses can grab hold of that trend to harness the power of the peers.
You spend more time with a business partner than you do with anyone else, so it makes sense to team up with someone you like, trust and respect. Here is how to do business with family and friends.
Matt Lawrence looks at the pitfalls to avoid to prevent your business – and your friendship – turning sour when going into business with pals.