Data provided by McGregor BFA
All data is delayed
Loading...
See More

5 Tips on avoiding conflicts of interests for small businesses

May 06 2010 00:00
<p>1 BE AWARE that, in a small or family-owned business, special favours to family members and friends de-motivate employees and set a bad example. </p>
<p>2 THINK TWICE about offering a contract to a supplier who is a relative. Award contracts on merit. </p>
<p>3 AVOID LETTING family members borrow company vehicles - and don't allow your sister to ask the company's computer wizard to set up her home office. </p>
<p>4 DON'T PUT family members on the payroll if they're not working in the company or can't make a real contribution to the business. </p>
<p>5 THINK OF the future. If you hope to seek investors or go public, dealings with family members outside the business will be questioned. </p>
<p>Source: http://www.score.org/
 
business advice
NEXT ON FIN24X

The march upwards

2011-08-04 00:00

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

'Zuma's legacy will be judged by Nkandla'

The legacy of President Jacob Zuma is contingent on how he deals with the issue of upgrades to his Nkandla homestead, says Cape Town Archbishop Thabo Makgoba.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...