Thailand Investigations Blog
Do You Want to Know the Truth?

Starting a business is never easy. Much harder than starting a business is keeping it afloat. It’s rare that a business hit on immediately and becomes instantly successful; many will even tell you that whatever money you put into a business should be something you’re prepared to lose. That, plus adding the infidelity of business partner, is just too much. Even if you get past the first two stages, hardly anyone survives the devastation of being fooled by a business partner unless these people are caught before worst comes to worse.

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Another thing you should understand is that not all partners start out with the intention to cheat or steal from you. Most also have a little money of their own, but see the opportunity to take advantage, so they do what they do. And mostly, it always starts out small, until lit

tle by little they give in to their greed until it becomes too late, so they split, and leave you with the headache – none of which was your fault.

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Here are a few tips to help you safeguard your business.

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1. Have a background check done. Even though we said earlier that not every incident starts out with the other party intending to cheat, but it still helps so that you know whether or not someone has at least the financial capacity to be a partner, and not just be a bag of hot air. Some might lead you on but really have nothing but their words and their charisma. Always beware of sweet talk.

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2. Have everything in writing. Having everything documented, with certain strategic entries overlapping, can serve as a safeguard so that proper records can be kept and less opportunities for some to take advantage over the other. Try consulting a lawyer and / or reputable business consultant regarding these matters.

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3. Inspect records regularly. Inspection always puts people on their toes, and try putting in some surprise ones from time to time. This way, you establish a productive routine while being unpredictable at the same time. Of course, it goes without saying that you should which particular sections of record you should look through thoroughly. Many small cheating techniques involve setting up a separate account to funnel in stolen money, and misdeclaring expenses. Check and double check always. If you don’t have time, then have someone reputable, like an auditing or accounting firm, do it for you. Or better yet, if you can afford it, hire an accounting firm to do the numbers for you. This way, both you and your business partner are assured that someone objective is doing the numbers.

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4. Confront only when you have HARD evidence. Voicing out any suspicion, big or small prematurely only gives culprits time to cover up their tracks. So if you are in a position to gain some hard evidence yourself or feel more comfortable having someone else do it, then do what you feel is best. A proper background investigation must first be conducted before you can lodge any complaint with the authorities. Just remember that without any hard or solid evidence, you have nothing.

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Keeping your business safe is important, because it is you money, and it is no joke starting and running a business. Always safeguard your investments as best you can so you avoid trouble in the future.