Having partners in business

[Inem]

Partnership is the coming together of 2 or more people to have a business which the profit and loss will be shared among the partners.

Going by the benefits of having partners like coming together to take good decision, having more money to run the business and the death of a partner doesn't end the business like in just 1 person business. Do you think partners in business is a healthy development?

 

[Chima.k]

Having someone you can partner with in your business is a good idea. If only you can trust yourself and partner and how reliable both of you are.
You can get a good partner who have similar passion on dream for such business. One disadvantage of having a partner is that they can swindle you, if you are not having a good agreement with your partner. So it's best to get a reliable partner that can make you achieve your dream.

 

[Seyesystem]

The only thing that can make me go into partnership business is if I don't have the required capital to study business alone because I know that partnership business is somehow difficult and risky sometimes.
Partnership business is very complicated in doing partnership with any person make sure that the role and sharing formula is documented. Partnership business is very good to do especially when you have a good and reliable partners in the business but in order not to have future conflicts in the business you must have a documented partnership deed which will states the sharing formula of the profit, duties of every partners and other important things. In business many partners do have serious conflict but once you have the documented your partnership deed you will have rest of mind.

 

[Rna001]

Partnership in business is not always easy as it comes with a lot of challenges or rather demands. However partnership in business should be encouraged as it is the coming together of two or more people with an established agreements for the purpose of the business. To me I would like to have a partner in my business because; 1, financial engagement 2, sharing of liability and loss 3, divergent opinions or ideas that could help in growing the business, just to mention but few. Sometimes you need a support and can only get a true support through partnership.

 

[Noor Fatima]

Partnership is the coming together of 2 or more people to have a business which the profit and loss will be shared among the partners.

Going by the benefits of having partners like coming together to take good decision, having more money to run the business and the death of a partner doesn't end the business like in just 1 person business. Do you think partners in business is a healthy development?

I don't think so a patners have many issues related to money ,duties or negligence that we heard daily and it is true also when a man has solo business he is the owner all the discussions are taken by him and all the mistakes are also so if he do any mistake then he can't be angry on another person but in patners this quality will overcome which is not healthy for business.

 

[Olajidey]

I will list some of the advantages of having partners in business. The partnership is having two or more people engaging in the same business and have reached an agreement. sometime it might be hard for an individual to raise all the capital by him self and will need the help of another person. the partnership also shares lose if there is an issue this will make the burden. there is also a prompt decision, they said two heads is better than one.

 

[btaliat]

I don't really like partnership for anything. The reason is that it is usually difficult to see someone that share the exact vision with you. And if you want run a partnership. You must both share the same mission objectives. Besides, the sharing formular always serve as a vibe of contention because they may not know whether to share the money based on how effective the partners are or the amount each contribute or even maybe the role that each oversee. All these problems make partnership bore to me.

 

[sincerem]

I don't know why my heart never for one day fell for partnership type of business. I just like sole proprietorship business initiative, where i have to be the sole decision maker. I don't like sharing my business ideas with any one, cos i believe that as time goes on, conflict between two partners or more than can result in, leading to disagreement and business tug war. Cos this one will be feeling that his contributions is key to the business success than the other. And the partner can never take such things lightly with his own business partner, and it maybe heading to dispute which i never like as a business owner.

 

[Nii41]

The good thing with partnership is the fact that you all can come together with different ideas that will help the business to flourish. The disadvantage is when you guys disagree, disagreement between partners can affect a business depending on how bad it is and there is a split, it affects the business greatly. Also when profit has to be shared, if you were running the business alone, you would enjoy all the profit, but with partners you will have to share it, although you all will bear the risks when it comes. So partnership has both advantages and disadvantages.

 

[Doradorwa]

I have no issues with having a partner for your business but having it for a new business is an issue... You will never the able to take glory in your handiwork... The money will never be your... Ideas that are your will never be yours... Do you know how many lawsuit have been served against people that claim they are partners in business... Some people are gurus in extortion others, money that don't belong to them they will try to sell it and this is because most partnership business started as small with the hope that it might never boom and there will never be much profits to divide so therefore legal stands are not there and when the business boom dividing profits turns to problem.

 

[Bookwormlux]

Partnership is the coming together of 2 or more people to have a business which the profit and loss will be shared among the partners.

Going by the benefits of having partners like coming together to take good decision, having more money to run the business and the death of a partner doesn't end the business like in just 1 person business. Do you think partners in business is a healthy development?

Having a partner in business would help you get over financial challenges easily, especially if the partner is a supportive person who has the best interest of the business in mind. Though I prefer to be on my own running a business if I already have the money I need.

 

[IamDozzy]

The most important thing about partnership in a business is trust. Do you trust the competency of your business partner enough to leave him/her with some duties?.There is a saying that goes as “two heads are better than one”, and as such having a business partner comes with its numerous advantages. First of all is that you and your business partner would be able to pool resources together on order to ensure the business gets up to a good start. Plus you and your business partner get to combine skills which is to the advantage of the business.

 

[Maks25]

To set the ball rolling, I co-founded an Embedded Systems firm as the Business Development Officer (BDO) with another person (engineer)who was to function as the Chief Technology Officer (CTO). God gave me some great initiatives and we were able to get an office at Iyana Ipaja through a friend of mine. My partner was putting personal interests ahead of the firm's and eventually the soft loan which I personally sourced in my name from family and friends became a personal debt when the firm collapsed. I will be very, very careful and hesitant in going into partnership again, no matter what I stand to gain.

 

[Thosynho]

Partnership is the coming together of 2 or more people to have a business which the profit and loss will be shared among the partners.

Going by the benefits of having partners like coming together to take good decision, having more money to run the business and the death of a partner doesn't end the business like in just 1 person business. Do you think partners in business is a healthy development?

You are right with your assertion up here, there are quite lots of advantages associated with partnership business because there is this saying that two good heads are better than just one head. It's good to go into partnership business provided you have people of like minds with the same set goals and focus and ultimately when trust exist because without trust it better not to consider it all.