Partnership

[bethoven]

I know there are different types of business. The most popular of all is sole proprietorship. Anyway, if you would engage in a business, would you like to have a partner? What are the things to be considered before we enter in partnership?

[creobiz]

I prefer to have and control my own business. I am a hard (and maybe smart ) worker but not a good negotiator. I don't think I can negotiate well with my partner and produce a win-win solution, if things go wrong with our business.

[cw6]

Dido creobiz. Although I believe partnering is a good idea. It's not the idea for me. I'm entirely too controlling and as sad as it may sound, I'm one of the many women who believes that she is always right.

[eniyan]

Having a partner in a business is always a common thing. But out of my experience, having partners for any business will give only financial support, but there are so many problems in partnerships. it depends on the people also, but still partnerships in business might be avoided to be in the safer side.

[roselle]

Originally Posted by bethoven

I know there are different types of business. The most popular of all is sole proprietorship. Anyway, if you would engage in a business, would you like to have a partner? What are the things to be considered before we enter in partnership?

in my case i like to be in a sole proprietorship ..of which i am now..just don't like someone to consult and need approval and the likes..like a fall guy or something if the venture wont work..

[roselle]

Originally Posted by eniyan

Having a partner in a business is always a common thing. But out of my experience, having partners for any business will give only financial support, but there are so many problems in partnerships. it depends on the people also, but still partnerships in business might be avoided to be in the safer side.

i agree with you on that eniyan..misunderstanding and the likes will what mostly will be experience ..we are not perfect ..we even quarrel with our siblings how much more with other people..

[roselle]

Originally Posted by cw6

Dido creobiz. Although I believe partnering is a good idea. It's not the idea for me. I'm entirely too controlling and as sad as it may sound, I'm one of the many women who believes that she is always right.

great! i admire you for your belief on this one cw6..

[WildblueChld]

Partnership is not for me. I like to be in control in everything I do and partnership requires a lot of compromise most of the time. Plus, if the business goes bad, I would rather have the sole responsibility and deal with the consequences on my own.

[krisskross]

Why don't you try sole proprietorship? It would be less complicated. In a partnership, you need to make an agreement with your partner as to everything. The best way to understand partnership would be to read its law.

[Kart]

Originally Posted by bethoven

I know there are different types of business. The most popular of all is sole proprietorship. Anyway, if you would engage in a business, would you like to have a partner? What are the things to be considered before we enter in partnership?

Partnership in business could reduce the burden and also share the profit. Partnership is required when it is a big project and you work on it. Sometimes, people come with a good idea and they cannot invest money. So people with money can make them as their partner and use their ideas for creating a profitable business and they can be paid with a percentage of the profit.