Owning/Running a Business while in IB
Hey all, I am currently enjoying my summer between getting my internship offer earlier this year, and starting as an intern summer of 2027. I had a chain of events recently that has now left me in charge and majority owner of an event vendor type business. It is not large scale, only on track to do about 40k this year, and maybe 70-100k next year, but it is niche/simple enough that I feel confident to actually be able to hire out the entire labor pool well before I were to actually hit the desk full time, so that do not need to be involved in any day-to-day operations. The business itself could almost be classified as a hobby business, and is asset-intensive. My actual person is not what makes the business run, but at this current time I do about 15 hours/week for the business. I also have two equity partners that can help run things at least during my actual internship so I wouldn't need to think about it while gone for the intern stint.
Is this something that would be frowned upon? Is it something that I shouldn't talk about or is it something I should bring up? Should I just get out of the business entirely? Mostly want to hear from actual full-timers.
I do recall that some banks don't allow you to run your own independent business. I know at my UMM, it was something I had to click no on whilst filling my application. It's either you won't be allowed, or there will be some sort of regulation that'll need to take place presumably.
Yes, I was just looking back at what I had signed saying I need to disclose these things. I will cross that bridge when I get there/need to. This post is asking for advice on if it is even worth attempting.
From what I can read, I will likely need to declare it, and they will mostly care about it for compliance reasons, but I just don't know how approach the subject. Thank you though.
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