Are you in business with your life partner and can’t tell the difference between your bedroom and the boardroom? His Secret Obsession Welcome to the world of Couplepreneurs! What are “Couplepreneurs”? This term describes any two persons living together in a committed relationship and also owning and managing a business together. Couplepreneurship is a growing phenomenon for several reasons, including: corporate downsizing; more women entering the workforce; early retirees looking for another venture; and technology that allows a small business to become a viable option for earning a family income.
Statistics are not specifically kept on the number of small businesses jointly owned by couples. However, according to the Small Business Administration (SBA), the number of “jointly owned sole proprietorships” is increasing steadily at greater than 5% a year. Since “jointly owned sole proprietorship” is a tax term for a business where two individuals share ownership, this information could indicate a rise in Couplepreneurship. The actual increase in businesses owned by couples may be higher, as the SBA does not keep statistics on corporations or partnerships run by couples.
Being partners at home and in business is not only doubly challenging, but exponentially more complicated than being partners in only one of these endeavors. I congratulate all of those brave and adventurous souls who are doing both successfully. The following tips have been gleaned from my own experiences living and owning businesses with my entrepreneurial husband over the past twenty years; extensive reading; and interviews with several other successful Couplepreneurs.