⌛ need addvice

been to dumaguete five times now i hope to retire there in the next couple of years met a nice lady 4 years ago no sex we are just good friends very nice famlie i stay with them when i come over hear for the last three years i have been helping to put her son through uneversity he finishes next year i would like to buy a buiness for her son and younger sister no strings atached i would not want any return for my money they have never asked me for money would my offer be took in the spirt in the spirt it was ment or would it be a case of a nother stupid forigner i would be very gratfull for any coments

 

Do ask yourself the question: will they survive without you anyway ?

 

The spirit in which your gift would be taken would, I think, depend entirely on how you present the gift and the personalities of those being presented the gift.

Even though you would expect nothing financially in return from the business, you may find yourself disappointed if the business is not well-run or the recipient sells the business or its assets rather than operate it. Take a hard look at the recipients. What are their strengths? What are their weaknesses? Have they ever operated a business before? Do they possess a healthy work ethic? Have they ever worked? Did that work entail the type of thinking/analytical skills that they need to be a successful business owner? Do they want their own business? (Assuming they understand that responsibility comes with that ownership.)

Don't assume you know the answers to any of these questions. Ask before you act. The answers may surprise you. I have given the "gift" of small businesses before and considered others. I have been surprised. Once I began asking these questions, the recipient began to realize the work and responsibility involved with accepting the "gift" and in the end decided they would rather not accept those responsibilities even if it meant more resources for them and their family.

Also, do not assume that successful completion of university will translate into being a successful business person. (For most Philippine universities, graduation simply means the student was able to pay tuition for four years...most schools are 'for-profit' businesses. As such, I have never heard of a student who could continue to pay tuition being 'failed'.)

 

DG has given you some really good advice. The main thing is to talk to them and try to discover what they would enjoy doing and what motivates them. If you give them something they do not understand nor want to do, what good is that?

Unfortunately there are many college grads here who are driving trikes or waitressing at local fast food stops but that does not diminish the accomplishment. That is a fantastic gift you are already giving.

 

Well, I should say that the family is very lucky to have you as a helpful friend. I hope they will be able to reciprocate the same kindness when you retire here for good. You have already done a great thing in sending the son to school. However, about giving them business, I think that it's too much already. That is just my opinion. I suggest that you let the family pick up from there and not be too dependent on you.

 

Maybe this is an idea

You strike me as a wonderful human being. If you are going to retire anyway you will need something to do. So start a business hire the boy I will bet he would be happy to have a job and still be free to enjoy his youth without all the responsiablity which most likely would be to much for a young man anyway. When the time is right you could allow him to take over the Business.

So I would say tell the family you want to start a business ask the young man if he has any ideas. Once you find a suitable business go for it. In this way you can keep you ties to the family strong and allow them to feel they are earning their way, So they can take pride in it.

But this is just how I would handle it. Good luck in what ever you do...

 

Most natives lack the capability of running a business. You may be starting something that is unproductive and troublesome.

What happens the first time the business is in financial trouble? The second time, The tenth time? Are you willing to continue to throw pisos at it?

Larry

 

DG gives very sensible advise (clearly from experiance)

it is pretty simple if somebody had the right entrepreneur skills they would have started something already and likely it would be pretty successful (considering it is not one of the Philippines core strengths).

Besides easy comes easy goes, I would be very hesitant, I also have similar experiences as DG with it and even though it is a gift, it is still bad for your personal relations with people.

There might be better ways to help/support people besides you got somebody a decent education and it might be good for them to get some work experience, I know there is a lot of slagging of the education system in the Philippines but in general graduates know sh*t when they get out of school and learn the real things while working. Even good universities teach often basic, theoretical and outdated material and it is not a great position to go straight into your own business (unless of course you are brought up in a entrepreneur family).

 

Very few kids anywhere are ready to start their own business right after graduation. Sixteen hour days ,no days off, and forget about vacations. In the best of times it usually takes 3 to 5 years before you see a profit. When you pay your employees more than you can take home from the business it is discouraging.
Maybe you would do better helping him get a job at first. Watch him for a while and if he shows an interest and you think he can handle it then help him start a business of his own.
Kenny

 

many thanks for your addvice and comments i will let you know in a later post when and what i decied to do thanks again