I have never had to fire anyone for financial reasons but I have fired people for performance, work issues. I never felt bad because they were given warning, i tried to help them. But at the end of the day they always know they are bound to be fired. So whoever you have to let go, if its because of something they did then dont feel bad about it. They did it to themselves. Not you
What is this business he wants you to open for him? If his millionaire friends do it all the time why isnt he asking them? Is this a real life friend you have known forever or some internet “friend”? If your name is on any paperwork at all you have liability.