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Is a Family Business or Partnership Right for You?

What does Harper Lee’s classic novel “To Kill a Mockingbird,” which was turned into an equally stellar film, have to do with business?

It gave us this quote: “You can choose your friends, but you sho’ can’t choose your family.”

And while relatives are the banes of existence for some people, that doesn’t stop many entrepreneurs from starting family-owned businesses–or entering into partnerships with close friends, who can be just as frustrating as relatives.

In my loan advisory firm, we frequently get phone calls about partnerships that have gone awry.

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