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When to consider involving partners in your sole proprietorship business.
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[QUOTE="Kendy, post: 233183, member: 63869"] On a personal level, I prefer running a business on my own because there are many challenges that comes with operating or partnering with someone. There are cases where a business owner might decide it it time to go into partnership and some situations is always due to lack of capital and experience. There are some business owners that due to inadequate finances, they opt for partnership with someone in order to reduce the costs which would have been borne by one individual. At times, they go opting for investors who would also have a portion in their businesses. For me, the state which I will consider partnering with anyone will be when my business has grown to a stage which I'll be needing Ambassadors and influencers and apart from that, I do not think I would ever engage in partnership business because the few I have gone into, it always ending in a deadlock and my capital is not always being realised. Anyways, they are still some people who are trustworthy and can share in the same vision and objectives of a business. The bone of contention is always when the both parties refuse to heed to the vision that had already been established and this brings about unproductivity in the business. [/QUOTE]
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When to consider involving partners in your sole proprietorship business.
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