The shop might bear the name The Friendly Grocer, but its owners were far from it on Monday after they got into a scuffle that ended with one allegedly being stabbed.

An argument broke out between two business partners in an office area of the Woolloomooloo convenience store about 2.30pm on Monday before it escalated into a physical fight, police say.

It's a bit ironic given the store's name 

"The accused got a fork and knife out from a draw in the office and came towards the victim who fled,” said Inspector Paul Dunstan from Kings Cross police station.

“[The victim] was pursued by the accused. The victim attempted to restrain the offender.

“During the process he was able to stab the victim just once in the right hand causing a wound that bled.”

The victim was 55 and the offender aged 48.

Inspector Dunstan said the 55-year-old man declined treatment from paramedics although the “knife did penetrate the skin, enough to be considered a malicious wound”.

"It's a bit ironic given the store's name," he said.

The victim was back at work on Tuesday and “attending the cash register as we speak”, Inspector Dunstan said.

Police arrested the 48-year-old man at the Cathedral Street store. He was taken to Kings Cross police station and charged with malicious wounding and assault occasioning actual bodily harm.

He was given bail and ordered to appear in Central Local Court on April 8.