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Is it a good idea to start your first business with your friends?YES or NO?

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    Is it a good idea to start your first business with your friends?YES or NO?

    I and my friends where talking about putting up business, but it will be my first business ever and I'm thinking if it's a good idea to start one with my friend or should I try it on my own first. I'm actually thinking if I started business with my friends it is a good idea because it will lessen the hassle on our ends because we have each other to help one another, but in the other hand I'm thinking that if I ever plan to put up my own business in the future by myself only i might not be able to do it alone because I used to have someone with me to help. That's why I'm asking for your opinions if it's a YES or NO to put up your first business with your friends.

    I believe that partnership is good in business, because I always believe that two good heads are better than one ,having partners that are skillful in the area of a business is a great asset to a business especially a start up and most especially where you're a novice or a newbie in such area,it pertinent you partner with such a friend to build the business ,I believe less risks and losses will be incurred since one of the partners isn't a novice as well,but one has to be careful especially with finance you could handle that part yourself.


      If the business is still small a single proprietorship will be the most ideal. It's best to start your business all by yourself first. First, the decision making process will be a lot simpler and the distribution of profits won't be too bloody and tedious. Partnerships arise between two single proprietors who have already proven themselves to be good businessmen. Why should you choose a partner just because he/she is your friend? If both of you are cooking something, then the assumption is that both of you are cooks.


        From my point of view if your cash transaction is transparent then partnership can go longer, and the business has growth potential. And if the cash transaction not transparent and no big growth in the business then the chances of failures is high.

        If you have a big idea and plan then the partnership is the best. And the success chances increased to go with your real spark then you can focus more solve all the problem amidst the business with mutual understanding and face the hardship with a more confident way.

        I have seen and studies show that big businesses achieve great heights in partnership.


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