Husband Wants to Invest Money In Business for Son

tesuhoha

My husband just phoned me to talk about it. It is a really really good business idea but we need to do a lot of research to see if anyone else is doing it. I said to him what about if it was your business and if you employed him and paid him a wage. Then we could take back the profits to repay the investment. He said maybe a partnership or bring my daughter in with it too. However, we couldn't do it on our own as we need skills that we haven't got to implement it. I don't want to go into any more detail.

Thanks for all your advice. I do see what you mean but my son had a bang on the head when he was young and I think it has affected his brain in the area of motivation.

tesuhoha

Caroline_a wrote: »

This sounds like something that your husband wants to do - no sign of any enthusiasm from the son! To run a business, above all you need passion, and without that failure is pretty certain!

Your husband sounds like he is trying desperate measures for this. Why does he not set the business up in his own name, and employ your son. Then if he is lazy or doesnt work then he can sack him - and employ someone else. It would also give your son employment experience without the pressure of 'having' to make money.

That is what I just suggested to him. I think it is a better idea.

DigForVictory

You & your husband both have (entirely reasonable) problems with your son's attitude.

Your husband seems to think a £5K investment will help. (Nice round sum.)
You are a great deal less certain.

'Something very new' and 'Short window of opportunity' are phrases *I* associate with scams, so I'd be *extremely* wary of parting with money until I'd been given a load more information & seen my *son* take an active interest (as in upright, washed & dressed & eager to move forward) rather than dad.

Myself, I don't trust surefire things, and if noone else is giving son a start, There May Be A Reason for that. As in, he's not looking.

Hang onto your priorities and when your husband accuses you of not trying to help son, point out that there is a roof over his head & food on the table - none of which son is paying towards.

You have done well by intelligent careful planning. Do not let all that care cost you £5K. And possibly your exisiting relationships.

tesuhoha

HPoirot wrote: »

Also, why was he so quick to write off experiences in his teens? If your husband thinks he needs to set your son up for life then the best and most constructive thing to do is to pull him up and get him engaged in his trade. There is nothing like a father mentoring a son in their trade. Just throwing £5,000 on some new fangled concept won't cut it if he has been writing off every work experience IMO.

He has really tried to get him into his trade. He has talked to him many times but now he has a job where he cannot give him that opportunity any longer.

tesuhoha

DigForVictory wrote: »

You & your husband both have (entirely reasonable) problems with your son's attitude.

Your husband seems to think a £5K investment will help. (Nice round sum.)
You are a great deal less certain.

'Something very new' and 'Short window of opportunity' are phrases *I* associate with scams, so I'd be *extremely* wary of parting with money until I'd been given a load more information & seen my *son* take an active interest (as in upright, washed & dressed & eager to move forward) rather than dad.

Myself, I don't trust surefire things, and if noone else is giving son a start, There May Be A Reason for that. As in, he's not looking.

Hang onto your priorities and when your husband accuses you of not trying to help son, point out that there is a roof over his head & food on the table - none of which son is paying towards.

You have done well by intelligent careful planning. Do not let all that care cost you £5K. And possibly your exisiting relationships.

He is a very clean person. Is always showered and wears clean clothes every day. He has set up a business but its not making much money. He does lie in bed though.

Its not a scam. Its providing a service to business that doesn't seem to be available atm.

tiger_eyes

Absolutely not. You invest hard-earned cash into someone after they prove their work ethic and persistence.

whodathunkit

tesuhoha wrote: »

My husband just phoned me to talk about it. It is a really really good business idea but we need to do a lot of research to see if anyone else is doing it. I said to him what about if it was your business and if you employed him and paid him a wage. Then we could take back the profits to repay the investment. He said maybe a partnership or bring my daughter in with it too. However, we couldn't do it on our own as we need skills that we haven't got to implement it. I don't want to go into any more detail.

Thanks for all your advice. I do see what you mean but my son had a bang on the head when he was young and I think it has affected his brain in the area of motivation.

If you and your husband don't have the skills to implement this, what skills would your son be able to add to the business?

FBaby

There are many issues here. One is your son and his future. Two is your different attitude to debts and three the strength of this business proposal. Great ideas don't always make for the best investments. How much experience does your husband have in startups?

fivetide

Mojisola wrote: »

He can earn enough to buy his ciggies but not enough to pay for the food he is eating?

Thinking the same thing. Tell him to give up the fags, that will make him more employable and better off.

Of course it helps if mum and dad don't smoke otherwise it seems a bit hypocritical.

Apart from that you need to find a way to light a fire under his backside. Whilst it seems he's realised that he's screwing up his own future by riding the gravy train for so long it seems he isn't quite ready to step off.

Has he got any qualifications at all? I'd suggest he gets down Tesco and tries for a shelf stacking position. Anything at all to get some money in and stand on his own feet.

paulineb_2

Also, now that hes not signing on, he can do as much voluntary work as he pleases. The JSA ceasing shouldn't be an excuse for stopping the voluntary work, particularly if it was something he enjoyed. I did voluntary work when I was unemployed, tended to be one day a week and more if they needed me, but the job centre had no issue with it. That was 4 years ago now and I know things have got tougher re sanctions, but the fact that hes just accepted this, isnt signing on and isnt doing anything very much, not a good sign.

He should try and claim hardship benefit even if he cant get JSA (Im aware Im posting and I dont know everything that he or you tried to do to appeal the sanctions), this isnt just about him not getting money, he wont be getting his NI stamp paid either as long as he doesnt sign on. Get to the CAB and ask someone to take on the issue with him not getting JSA, but in the meantime, he really needs to think about claiming hardship benefit.

If he has issues with motivation, the very last thing Id be considering is investing 5 grand in something that he might not be motivated to do. I can understand the reasoning that if theres something he really would like to do it will give him a reason to get up and be motivated.

But there are other things he could be doing without having to shell out that much cash.