Is Partnership Business Really Bad Strategy

[Mika]

Starting a partnership business has its pros and cons, however, if you look at many big successful companies like Apple, Google, Facebook, Microsoft, and Tesla, you'll notice that a lot of them were started by partners. Partnership is a good business strategy if you have a written contract among partners and if all of the partners have the same interest and level of skills. When you go into partnership business, you will have more money to invest. For example, if you have $1000 and your partner has $1000, you can start a business with $2000. Having more money gives you a better chance of being successful compared to being shortages with funds.

 

[Jasmine]

Partnership is not only the best model for small business but even the big businesses are built on partnership models. Don't you think the publicly traded companies are also some kind of partnership business as these businesses are built by taking money from thousands of people? If you have a sole ownership business, you might have to partner with another individual or business at some point. That's because you need additional funds and also expertise to grow your business. Partnership gets bad name because some people think you will be cheated by your partner