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Reasons you may face divorce after starting a new business

You have always wanted to start your own company. When you got married, though, you hadn't done it yet. You just kept working in the industry and learning the ropes.

About five years later, you decided it was finally time to take that next step. You started your company. It took work and dedication, and it felt like a bit of a gamble, but you also felt thrilled to get it off the ground.

One thing you should know is that this new business could put you at risk for a divorce. Here's why.

Financial problems

First off, your business is a financial risk, and money problems are one of the main reasons for divorce. According to one expert, cash flow issues impacted 87% of new business owners in one study. It's a virtual guarantee that this is going to happen to you.

What will those cash flow issues mean for your marriage? Are you going to invest family money in the business to keep it going? Will you and your family have to give up other things to support the business? Your spouse could feel resentful if they feel like you're just taking all of the money for your own pursuits.

Not to mention, financial issues at work put a lot of stress on you. Is that stress going to make you treat people differently? When it changes how you feel, think and act, your spouse may not be thrilled with the change.

Lack of time together

Another potential problem is that you could run into issues working long hours and not spending time with your spouse. A new business often takes a lot of time and commitment, but so does a marriage. If you spend 10 or 12 hours in the office every day, you don't leave a lot of time for your spouse or your family. This can cause you to drift apart and may lead your spouse to look for someone they can see more often.

Similarly, one expert noted that new business owners saw a significant decline in their sex life. She pointed out that sex and money are top reasons for divorce in the United States. If a couple no longer had time to be intimate, it could take a toll. Add to this the fact that they could have money problems on top of everything else, and it's clear that the new business could hinder their relationship.

Your options as an entrepreneur

As a business owner, you definitely need to know what legal options you have if you do end up getting divorced. You may need to know how to protect your company and make sure the end of your marriage doesn't mark the end of your business.

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Hecht Family Law
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Alpharetta, GA 30004

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