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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
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