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Nov 19, 2017
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5 Tips on Avoiding Conflicts of Interest
  1. Be aware that, in a small or family-owned business, special favors to family members and friends de-motivate employees and set a bad example.

  2. Think twice about offering a contract to a supplier who is a relative. Award contracts on merit.

  3. Avoid letting family members borrow company vehicles, and don�t allow your sister to ask the company computer wizard to set up her home office.

  4. Don�t put family members on the payroll if they�re not working in the company or can�t make a real contribution to the business.

  5. Think of the future. If you hope to seek investors or go public, dealings with family members outside the business will be questioned.

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