Skip to content
Life Guide Situations Guides

    Type a keyword to search
    English

    By situation ยท 4 tips

    Starting a shop or company

    What to think through before you open: how much you can afford to lose, personal guarantees, nominal shareholding and paying for outside help.

    1 Before you open

    Starting a business: don't lose the family savings

    Start a business only with money you can afford to lose; don't touch the family's savings or borrow to open

    Debts of a sole proprietor (ไธชไฝ“ๆˆท) are paid from money and property in your own name. If it can't be told whether the whole family ran the business together, the whole family's property pays. Opening a company is not a safe harbor either: when the company can't pay its debts, the investment you promised but that is not yet due can be demanded early. So decide how much to put in by this test: even if it is all lost, you can still pay the mortgage and see a doctor.

    • High value
    • Evidence B
    • Saves money
    Starting a business: don't lose the family savings

    Don't sign a personal guarantee on a company loan, and your spouse shouldn't sign along with you

    If what you sign is a "joint and several liability guarantee," then when the company can't pay, the creditor can skip the company and ask you directly. A "general guarantee" means the company is sued first, and only what is still short after its property is sold falls to you. If your spouse signs along, both people's household property is put in, and the "limited" in a limited company no longer counts for you personally.

    • High value
    • Evidence A
    • Saves money
    Starting a business: don't lose the family savings

    Don't be a nominal shareholder, and don't hold equity on someone else's behalf

    Once your name is on the register, you are legally a shareholder. The money you promised at registration must be paid on schedule, and if you don't pay, you owe the company for its losses on top of paying it in. If other shareholders did not actually pay in their money when the company was set up, you also share in repaying the shortfall. The business was run by someone else, and the debts are in your name.

    • Top value
    • Evidence A
    • Saves money
    Starting a business: don't lose the family savings

    Before paying someone to run your online shop, taking a shop-opening course, or doing "no-inventory" selling, ask whether more money will be demanded later and where the sales will come from

    These scams take a sum first, then keep getting you to add more through "upgrade packages," advanced payment for goods and "unfreezing fees." The orders and income in the back end may be fabricated, and when you try to withdraw, you can't. Boosting sales by fake orders is itself illegal, and a management agency that is caught is fined.

    • High value
    • Evidence B
    • Saves money

    Related

    This site arranged the groups and order on this page; the tips come from the book. About