The chain of thought advocating that a person should not mix business with pleasure is a long standing maxim which many entrepreneurs try to enact with their business lives.

It has been witnessed however that there are many successful businesses which consist of a husband and wife team acting in various capacities within an organisation. Their personal relationship does not seem to adversely affect either the business achievements or their ability to live in relative harmony.

Many would suggest that in such occurrences, the formula is quite unique and that they represent the exception rather than the norm.

For most businesses in the introduction of personal relationships in to the professional regime can manifest inconsistencies and watered down actions which attempt to satisfy both organisational and personal demands.

The extent to which this occurs depends largely on the basis understanding and maturity of the parties involved and their willingness and ability to distinguish between personal and business interactions.

Where the line is defined and maintained the personal and business relationship can exist independently of each other and events affecting one do not then transcend to the other.

The feelings and emotional elements which are often predominant in personal relationships are put aside when business matters are on the table and management tools which are rational are adopted.

Mixing business with pleasure in respect of having in work personal relationships can result in one or both parties being uncomfortably where the personal involvement ends and yet the employment continues.

In such cases work output often suffers and a resolution is required which often leads to one person leaving the business.

In many business cultures personal involvement between staff is not encouraged and in some instances banned (or effectively so). High risk businesses such as banks, casinos and others where the possibility of colluding staff could contradict or weaken the organisations internal controls are some examples.

It is difficult to conclude using absolute terms whether or not mixing business with pleasure will work or lead to complete disaster. Being wary of the potential risks and disadvantages might make any such decision as more informed and calculated one.

This is not to say that being aware of the drawbacks would result in a more favourably outcome than if the person were ignorant.

Everything from business credit card payments to PAYE and VAT due days can fall on weekends or bank holidays. In cases where remittances are not carried out on the preceding business day the payment will effectively be made late.

For example PAYE payments to HMRC are due on the 19th of every month. In November 2011 the 19th falls on a Saturday. If this fact were to go unnoticed and calendar reminder began flashing on the following Monday 21st the business would be defaulting on its statutory obligation to remit the monies on time.

Direct Debits and standard orders are a good mechanism for avoid missed payments but even with these in place the business still has to ensure that sufficient funds exist in their current bank accounts for the amounts to be paid.

Typically businesses will not carry large balances on their current account in order to minimise any losses should their facility be compromised. In the case of large VAT, PAYE or credit card balances a special transfer to a business bank account is often necessary to cover these demands.

HMRC sometimes give businesses two occasions in which payments can be late before imposing penalties and or interest. For a business with the required funds and knowledge and willingness to satisfy the obligation, such measures of enforcement can be inconvenient and seem wasteful.

Ensuring that adequate reminders of both the impending due payments and the time action is required so that they can be paid on time (taking in to account non banking days) is therefore important to all businesses.

There are those who like to boast in business; to tell everyone they encounter how successful they are; how they started a business from an idea they had in the shower and how it has grown to be a resounding example of entrepreneurship.

Whilst their stories might be both interesting and to a point true (allowing for the rightly deserved exaggerations), regaling a group of potential entrepreneurs might only fuel their desire to set up a similar business and cash in on the same idea.

The resultant increase in competition would almost certainly be unwelcomed, particularly if detailed information on suppliers, processes, customers and so on has been provided.

The thoughts of Keeping Business Ideas Secret might be extended further to maintaining a level of secrecy regarding the actual business once it has started; i.e. cut out the boasting in business.

There are entrepreneurs who are very successful in business but do not display their wealth to the outside world. They are usually unassuming and do not use material items to make a statement of their success.

The reasons for boasting in business probably have something to do with the self-actualisation which accompanies success and might in fact be the defining reason for the achievements themselves. Some entrepreneurs have been motivated solely by the desire to be able to say what they have done.

It this respect, it seems cruel to suggest that after they have worked tirelessly to start their own business and made it in to something viable, that they should keep it all to themselves.

Part of working for yourself means that many of the decisions which are to be made fall on the entrepreneur, in which case, they can boast in business if they so desire.

This article merely highlights the potential pitfalls of boasting and suggests that good businesses should be offer the entrepreneur sufficient financial inducements to keep their boasting to a minimum.