Husband Wants to Invest Money In Business for Son

tesuhoha

greenval wrote: »

I'm not usually this harsh but..............
Don't use your money for this. Furthermore I would be telling him that unless he signs on immediately and takes on a certain level of household chores he will be kicked out after four weeks. He will always be 'your child' but at 25 he is not a child!

I could not threaten to throw him out without doing it and I could not do that because he would be literally on the streets. He has nowhere to go. We have no relatives in this part of the country and none of his friends are in a position to offer him accommodation.

tesuhoha

As for him being enthusiastic my husband has come up with ideas before and he has said he would rather set up his own business. He has someone who will do artwork for him and someone who will work on a website with him.

My husband is going to talk to him tonight when he gets home from work. I have not mentioned it to him as I could not explain all the technical stuff very well. But definitely, definitely I think it will be hubbys business, not my son's if I have anything to do with it.

gsymoo

You mentioned you have a daughter who you've lent money to before and has always promptly paid back, which I assume means she's in employment. I have no idea of the relationship with your daughter but if she is hard working is there a risk of causing issues with her if you constantly give her brother help when he's not doing much himself? I only ask as a friend of mine was in a similar situation and it did cause problems.

tesuhoha

fivetide wrote: »

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.

He was brought up in a cigarette free household. I have never smoked and my husband gave up 30 years ago. He started smoking as he is in a band and they do a lot of pub gigs.

He has 5 A-C GCSEs which include English and Maths. Not impressive considering he went to a grammar school would you believe but he mucked about. (Private primary school). He watches documentaries and reads physics books for pleasure but when I suggest he studies for higher education he doesn't want to know. He has some ICT qualifications from courses he has been on.

He has actually applied for shelf stacking jobs but has not got them.

tesuhoha

gsymoo wrote: »

You mentioned you have a daughter who you've lent money to before and has always promptly paid back, which I assume means she's in employment. I have no idea of the relationship with your daughter but if she is hard working is there a risk of causing issues with her if you constantly give her brother help when he's not doing much himself? I only ask as a friend of mine was in a similar situation and it did cause problems.

My daughter hates him and would agree heartily with some of the harsher comments on this thread. She has a good job and works hard but we have given her a lot of help in the past and funded her through uni. I haven't told her about this yet as she would be horrified!

FBaby

If it is such a revolutionary idea ie is very unlikely that the only investment required will be £5k only As said before just protecting it will cost more than that.

Prothet_of_Doom

Okay, Look at it another way: so your Husbands had a business idea, that needs an employee.
Is it a viable idea that your husband could employ him and another more mature employee, both part time zero hours contracts, with very clear management by daily, and weekly objectives? This would allow him to work hard with a view to later taking control, without you risking your investment, without giving him any control whatso ever.
Clearly he needs to start at the bottom and be spoon fed. But if he works hard there's a carrot dangled where you eventually hand the business over. If he doesn't work hard the other employee gets more hours.

Mojisola

tesuhoha wrote: »

I could not threaten to throw him out without doing it and I could not do that because he would be literally on the streets. He has nowhere to go. We have no relatives in this part of the country and none of his friends are in a position to offer him accommodation.

And he knows you think that and so he feels secure in carrying on as he does.

tesuhoha

FBaby wrote: »

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?

Not a great deal to be honest.

tesuhoha

FBaby wrote: »

If it is such a revolutionary idea ie is very unlikely that the only investment required will be £5k only As said before just protecting it will cost more than that.

I don't think its something that can be patented. Its more something that can be made money out of before lots of other people start doing it. I.e. someone once had the idea to make money out of arranging gigs but now everyone is doing it. (Its nothing like that though).