2 min read
In Nigeria, starting a business is almost like a national hobby. From selling clothes online, to running a POS stand, importing goods, and even starting a food business. Everybody is hustling one way or another. And when you are ready to expand or need partners, the first set of people that come to mind are usually family and friends.
After all, who else will support you if not your people? But as many Nigerians know, mixing business with personal relationships can be both sweet and bitter. Let’s talk about the real wahala involved but first,
Why Do Nigerians Love Doing Business With Family and Friends?
Trust Is Everything: In this country where people can “carry your money and disappear”, working with someone you already trust feels safer. You have known them for years, so you are less worried about stories that touch.
Easy to Start: You can easily call your brother, cousin or best friend and say: “guy or babe, make we run this thing together”. No long grammar, no corporate meetings, just vibes and agreement.
Emotional and Financial Support: Sometimes family and friends will contribute small capital or support your idea just because they believe in you. No collateral, no high interest, no pressure from bank or loan apps.
Shared Hustle Mentality: Many Nigerian families hustle together. One person imports, another handles logistics and another runs the shop. It feels natural because everyone wants to grow together.
But omo, problems fit show oh!
Here Are The Risks
Familiarity Can Breed Laziness : Your friend may start coming late, taking the business for granted or assuming “since we know each other, e no too serious”.
Money Issues: The Biggest Wahala: Arguments over profit sharing or contributions can divide families. Before you know it, people start saying: “After everything I did, see how they treated me”.
Emotions Interfere With Decisions: Someone is not performing well, but you can’t correct them sharply because you don't want issues at home or someone deserves to be fired, but you are scared of family meeting.
Entitlement Mentality: Some relatives expect to take from the business anytime because “na family business.” Before you know it, stock starts missing or money disappears without explanation.
Lack of Boundaries: In Nigeria, people can easily mix personal issues with business. A small disagreement over pricing can turn into: “So this is how you want to insult your elder?”
Now that you know the possible issues that could arise, let's now show you how to avoid them like the sharp business owner that you are.
How to Make Family/Friend Business Work in Nigeria
If you really want to do business with family and friends while keeping your relationship intact and your blood pressure in check, you must be intentional.
Put Everything in Writing : Even if it feels awkward, write it down. In formal terms, get a contract drawn. Nigerians respect paper. You should include:
Separate Business Money From Personal Money: Don’t allow your sibling or friend collect money from the business to buy fuel or pay school fees without record. Everything must be documented.
Communicate Clearly and Frequently: Hold weekly or monthly meetings. Discuss challenges openly before resentment builds.
Respect Boundaries: Family issues stay at home, business issues stay in the office or shop. Don’t mix both.
Don’t Assume, Define Roles: Just because someone is your close friend doesn’t mean they know how to run a business. Assign tasks based on skill, not relationship.
So, is It a good idea? Working with family or friends in business can be amazing or it could destroy relationships beyond repair. The key is structure, communication and clear boundaries. If everyone involved is trustworthy, hardworking and mature, it could lead to massive success.
