Transparency eliminates the unknowns and brings clarity to where the company is heading and what challenges it is going through.
In some situations being transparent makes you uncomfortable because you allow yourself to become vulnerable.
Hiding things may seem useful in the initial stages but at some point the truth will surface and could destroy your credibility.
If you are authentic and coming from a place of integrity there is no reason to hide. Transparency takes your discussions to the next level and to subsequent breakthrough.