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Should one let his/ her boss know that they are running by the side?

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Even for us that are into full time employment, it is always advised that we should have another source and stream of income. Some full time employees have found a way to run businesses by the side.

Should a full time employee let his or her boss know about their side business? Why and why not?
 
I think the most important thing is that it does not affect your job. As long as it does not affect your job, I think there is any need telling your boss.
 
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