Hi folks,
I've been approached by a family friend to help out with a new venture. I've given him a price for completing works but I've now been told that the company (limited) has no seed money and therefore he's is looking for me to join on the basis of shareholding. I see this as high risk where I could complete over 40 days of development (IT) work (to begin with) and get nothing at the end (x% of nothing is nothing). I'm also worried about taking a small shareholding as I'd get no real decision making rights and I'm wondering how I could eventually turn the x% shares in to real cash.
Are there alternatives to share holding when a company has no money?
Any advice would be appreciated.
Best regards,
BVB
I've been approached by a family friend to help out with a new venture. I've given him a price for completing works but I've now been told that the company (limited) has no seed money and therefore he's is looking for me to join on the basis of shareholding. I see this as high risk where I could complete over 40 days of development (IT) work (to begin with) and get nothing at the end (x% of nothing is nothing). I'm also worried about taking a small shareholding as I'd get no real decision making rights and I'm wondering how I could eventually turn the x% shares in to real cash.
Are there alternatives to share holding when a company has no money?
Any advice would be appreciated.
Best regards,
BVB