Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.
On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.
It must be admitted that doing business with friends has its own challenges, especially if there are no clear arrangements regarding financial control. These challenges can be in the form of greed or disputes in making financial decisions. However, that doesn't mean doing business with friends can't go well. it is very important to maintain good communication with each other and make clear agreements regarding financial control from the start. This can include the division of tasks, financial arrangements, and long-term financial planning.
Because running a business with friends must also have an attitude of mutual trust and mutual respect for one another. Open and transparent communication on financial matters can help maintain mutual trust and prevent conflict. In doing business, decisions are sometimes required to withdraw money or make large expenses. it is necessary to make decisions jointly and based on an agreement from the start. This helps to avoid greed which can harm business as happened with your friend, it's a shame that the business has been running for 5 years.
in conclusion, doing business with friends can be a good choice if done with good arrangements and open communication. Good financial control and joint decision making can help keep the business stable and growing.