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When to consider involving partners in your sole proprietorship business.
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[QUOTE="btaliat, post: 231349, member: 26390"] Everybody wishes to be a sole proprietorship. No one even wants to share business with anybody for one reason or the other but majorly for privacy sake. But most time, we always find ourselves involving people to our business making it a partnership business from sole proprietorship. The major reason why people always see reasons to involve second party to their businesses is because of lack of enough capital. No doubt that business will require large cspital to be expanded. And when the money is not forthcoming and the business is stagnant or even retrogress, one may be forced to ask another person to join him in running the business. Most time, the reason why people involve partner in their business is if the owner of business sees that he's incapable of running the business. This may be due to old age, health wise or even when the person wants to relocate. This may warrant the business owner to seek another partner hands in running the business to avoid death of the business. Another reason may because there is much customers to be handled by only person just as the poster mentioned rightly. When a business expands to some extent, there may be need to involve more hands to satisfy the customers demands. [/QUOTE]
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When to consider involving partners in your sole proprietorship business.
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