How do I help my friends business?
My friend has entrusted someone to look after his restaurant and build up the business , but now he is rude to the staff and he thinks he owns the place. Recently he has bought a £10k watch and a £10k car. And when recently the accountant found out the books don't tally up. Now my friend feels hurt by this. He is now looking at ways to find out if he is taking money from the business.
Small Business - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
The books don't tally., That should be a clue.
Answer 2 :
Unless you want to efficiently run his place for him, there's really nothing you can do. He needs to start with a legal counselor and have him/her walk by his side when getting things straightened out. Was the 20K spent with the owners money without authorization? If so your friend needs to seek legal action against him. Your friend really should have kept a close eye on income, business expenses, gross income and employee comp, and how much his restaurant was grossing compared to how much inventory was going out.. If he would have done those things he would have quickly noticed the first thing was out of line and he should have taken action against whoever is responsible. And if the money was spent on the watch and car without permission, tell your friend to fire his a'ss immediately.
Answer 3 :
dont help them.that would be very helpful for them.*************
Answer 4 :
If your friend gets easily hurt he cant be doing business, he needs to stop being emotional about this and sort out the mess
Answer 5 :
Then you should hire a professional accountant for that matter. The financial statements being produced by the accountant will reflect how much money have been lost due to personal expenditures. Hope this helps and will resolve the problem with your friend!
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