Partnership vs sole proprietorship business, which one do you prefer??

[sincerem]

when it comes to business enterprise, we make decisions either to stand alone as a sole owner of the business, or be on a partnership with someone else. When it comes to deciding which one to go for, I will gently go for sole proprietorship business. I love to be in control of my business take the risk alone as well as to take the dividends all alone too. I don't like to share my business strategy with any one else, or sharing opinions concerning how to achieve success in my business. Cos i know at some point in the business career, dispute may rise when in partnership with a stranger. I don't like being on disagreement over a suggestion to run my business the way it pleases to me. Then working so hard to promote my business to see my partner not working as planned with me, that is another point that i never like in partnership with someone. Their are some advantages in partnership business, one might have an idea to run a business course but got no capital start up, then might go on partnership with someone that is financially sound to run the business effectively.

How do you want to manage your business? Be in partnership with someone or single handedly running it on your own??

 

[Seyesystem]

To me I will prefer sole proprietorship to partnership,Sole proprietorship is far better than partnership if you have you the capital because you are the boss of your business and you can take decision without waiting for any partners and in terms of profit you have the profit all to yourself. But partnership you can't take decision alone and when it comes to profit you have to shares it among the partners. Partnership may lead to conflict and dissolution of the business. Sole proprietorship business is the best when you have the capital to go into it you make the decision by yourself, you bring a new version by yourself, you direct the Business by yourself, you do the strategic planning by yourself, you diversify your profit into another profitable business and when the need for an expansion arise you make your decision by yourself. I like so proprietorship business than partnership business.

 

[Seyesystem]

To me I will prefer sole proprietorship to partnership,Sole proprietorship is far better than partnership if you have you the capital because you are the boss of your business and you can take decision without waiting for any partners and in terms of profit you have the profit all to yourself. But partnership you can't take decision alone and when it comes to profit you have to shares it among the partners. Partnership may lead to conflict and dissolution of the business. Sole proprietorship business is the best when you have the capital to go into it you make the decision by yourself, you bring a new version by yourself, you direct the Business by yourself, you do the strategic planning by yourself, you diversify your profit into another profitable business and when the need for an expansion arise you make your decision by yourself. I like so proprietorship business than partnership business.

 

[Jonaville]

Both have their own advantages and disadvantages. For sole proprietorship, the expenses, risks, and debt incured in the business will be accounted for by him alone. This means that the sole proprietor we have to bear all unpleasant experiences encountered in the business management.
For partnership, all these can be shared. The workload will be lesser, but then, so will the profits. So it depends on what you are comfortable with.

 

[Alexandoy]

I have friends in the business industry that I belonged to before who knew my sad experience with a business partner. Even without saying, they already know that the best type of business is a sole proprietorship. That is where you get full control of the business operation in its entirety. Your word is the law and most likely there will be no opposition, no arguments and no disputes of any kind. That is one ideal type of business for me. A business partner may be helpful in the operation of the business but it can create friction.