WHEN DEAN BARBER, founder of the Barber Financial Group, a wealth management firm in Lenexa, Kan., hired his wife Kim about 12 years ago, their goal was to save money.Dean needed to hire someone but was also in a pinch financially. So he turned to his wife, who had been home raising five children, and began paying her a modest salary to oversee marketing and human resources. He thought: "Her giving up her time would be less costly to the company as a whole than hiring an additional person." Today, the now thriving 21-year-old company has 20 employees, clients in 30 different states and earns roughly $2.4 million in revenue. And more than just cheap labor, the real benefit of having Kim around is that "there's nobody else who is going to care as much about your business as you and your spouse," he says.
While hiring a spouse will likely lead to one or two lover’s quarrels, the benefits can often outweigh potential downfalls. Indeed, say small-business consultants and accountants, whether it's moral support, less expensive labor or lower health-care costs, hiring a spouse can provide a number of advantages.Content Continues Below
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