Don't go to partnership until there is need to.

[btaliat]

Partnership business involves starting a business with two or more people. In other words, it is when two or more people come together to pull their resources together in order to stsrt a business.
In my opinion, I don't advice or even encourage young business owners to go into partnership. This is because of all the problems associated with partnership. The unhealthy rivalry and even Clady of functions couple with sudden death of the most functional partner always mar the partnership business. The only reason why people should go into partnership should be inability to start a solo business due to the lack of money.

 

[Peppul]

Like I normally say to people if you have your capital to start up a business no matter how small the capital is use it to start up a small business and if you won't be satisfy with with a small business continue saving and saving until you are able to get the desired capital you can use to start up your business. Involving in partnerships business will always cause a lot of issues on the long run, there will be a lot of misunderstanding especially when the money starts flowing in. People are always greedy when it comes to money nobody is innocent. So to avoid all this it's best not to get yourself involved in partnerships business.

 

[Bookwormlux]

I agree with you, I do not think there is a need to involve any so called business partner if you already have the required funds to start a business. Some people are out there to cheat others and partnering with them would just lead to you losing everything. I suggest that one should only talk about partnership if the partner is your spouse.

 

[IamDozzy]

True , but partnership is a form of business. Once you trust the trust a potential business partner and you believe in his/her ability then I don't see why one shouldn't go ahead with that form of business. In all forms of business there are always advantages and disadvantages associated with every form of business. Therefore, as a rule of thumb, if the advantages outweighs the disadvantages the go for it but if vice versa then do otherwise.

 

[btaliat]

True , but partnership is a form of business. Once you trust the trust a potential business partner and you believe in his/her ability then I don't see why one shouldn't go ahead with that form of business. In all forms of business there are always advantages and disadvantages associated with every form of business. Therefore, as a rule of thumb, if the advantages outweighs the disadvantages the go for it but if vice versa then do otherwise.

You are right. Trust is relative. You may trust the person wholeheartedly, does that mean the person trust you as well? How will you know if the person is working at the same pace at you? How will you share the profit of the person with large share is the lazier between you? All these are the reasons why carefulness must be observed when doing partnership even if there is legal backing. I don't see any advantages of partnership personally.

 

[Gamboakas]

Don't go into partnership until there is need to because people nowadays are hardly to be trusted it is advisable you start your business all alone it may seems hard but the more you endure with the little you have the better for you, although it has it own merit and demerit.

 

[raaman]

When you enter into a partnership business with somebody else, that person should be known to you very well and trustworthy. Repenting later on will not help. Generally speaking, any business with partnership is not at all advisable. Problems may crop up in a partnership business, at any point of time. One should go for a partnership-type business only if necessary.

 

[Mataracy]

You Dont need to go in to partnership until you truly know the person you want to do it with.
Before you enter in to any business with anybody you must enter in an agreement with such a person should I case therevis a breach in contract or agreement.

Some people do not really know the meaning of partnership before they enter in to it. Doing business with people is more than just doing business for doing so. Business is an entity on it own which I'll not want any body yo tampering with negatively. Partnership require a concrete agreement in any business.