Do you prefer partnership business ahead of sole proprietorship business?

[Donkiz]

I love having the freedom to run my business in the best possible way that I can, and to move it forward at my own pace without anyone interference. Even though partnership business is good as it helps to generate bigger capital for the business, and reduces your liability, but I still prefer sole proprietorship.

 

[Emma Aneni]

It depends entirely on how big the business is or how you plan to expand in the long run
For a small business, a sole proprietor might be a good idea if the person can handle everything that comes with the business.

 

[Ryeetar]

They are both good form of business, I would say partnership because in sole proprietorship you get to make all the decisions yourself, you bear risk yourself, you bear loss yourself. But in partnership you make decisions as one, you split losses among yourself.

 

[Seun4luv]

The benefit of a patnership over a sole proprietor ship is that you'll share the responsibilities, resources, and losses. On the other hand, you also split your profits, and you might face disagreements over how to run the business. One way to mitigate conflict is to create a patnership agreement.

 

[Bilal0087]

When it comes to business mode of operations, individuals have their own preference. Some people love the partnership business cos of advantages of sharing business responsibilities with another as a result of not having adequate funds to single handedly run it. While others never loved partnership type of business cos of the risk attached to it. They never loved to share business burden, ideas, responsibilities with any one. They prefer to manage and run it on their own without any extra body input or support. I choose the sole proprietorship type of business than the partnership type. Cos I love to be my own boss, manage my own business the way it pleases me and not sharing responsibilities with any one else.

Which one do you prefer, partnership or sole proprietorship business initiative??

If it comes to me I will prefer for partnership business because I consider it more reliable and effective type of business.
In this two minds are involved for the progress and development and in emergency condition one person can support other to survive.

 

[Abbeyola]

When it comes to business mode of operations, individuals have their own preference. Some people love the partnership business cos of advantages of sharing business responsibilities with another as a result of not having adequate funds to single handedly run it. While others never loved partnership type of business cos of the risk attached to it. They never loved to share business burden, ideas, responsibilities with any one. They prefer to manage and run it on their own without any extra body input or support. I choose the sole proprietorship type of business than the partnership type. Cos I love to be my own boss, manage my own business the way it pleases me and not sharing responsibilities with any one else.

Which one do you prefer, partnership or sole proprietorship business initiative??

I don't prefer partnership to sole proprietorship. Alot of partnership businesses always ends up being dissolved, due to one short comings or the other on the parts of the partners and lack of understanding among partners.
Sole proprietorship is much more better.

 

[Thosynho]

When it comes to business mode of operations, individuals have their own preference. Some people love the partnership business cos of advantages of sharing business responsibilities with another as a result of not having adequate funds to single handedly run it. While others never loved partnership type of business cos of the risk attached to it. They never loved to share business burden, ideas, responsibilities with any one. They prefer to manage and run it on their own without any extra body input or support. I choose the sole proprietorship type of business than the partnership type. Cos I love to be my own boss, manage my own business the way it pleases me and not sharing responsibilities with any one else.

Which one do you prefer, partnership or sole proprietorship business initiative??

What a lovely post you have here. I must say you've done justice to the topic. While partnership business would have been better because two good heads are better than one, but having a greedy or bad person as partner in business is highly frustrating. I prefer sole proprietor business.

 

[Chibson]

Sole proprietorship is a kind of business that being run and owned by one. In this kind of business the owner bears the risk associated alone. He also makes the profit alone. He is the sole decision maker of the business and in any occurrence of sickness or death the business may die off.
But in partnership business there are 2 or more individuals involved and they contribute money to run the business together.

 

[Profuk57]

I also personally love to do my business of my own but sometimes we lack the necessary capacity and money to run business owner or in this case it is totally advisable to run your business with a trustworthy park with a well written agreement so as not to break the trust and bond between the two of you

 

[Psalmsavatar]

These are the main benefits of a sole proprietorship over a partnership:

1. It’s easier and cheaper to form. It has fewer government regulations
2. As the sole owner, you have complete control over your business
3. All the profits earned by the business are yours, and you dont have to share them
4. You don’t have to pay any individual income taxes.

 

[Kaindio Agnes Wanja]

When it comes to business mode of operations, individuals have their own preference. Some people love the partnership business cos of advantages of sharing business responsibilities with another as a result of not having adequate funds to single handedly run it. While others never loved partnership type of business cos of the risk attached to it. They never loved to share business burden, ideas, responsibilities with any one. They prefer to manage and run it on their own without any extra body input or support. I choose the sole proprietorship type of business than the partnership type. Cos I love to be my own boss, manage my own business the way it pleases me and not sharing responsibilities with any one else.

Which one do you prefer, partnership or sole proprietorship business initiative??

I prefer sole propritoship over partnership business .
The reason for my choice is because,i would like to be my own boss and manage my business how i want.Here decision making also is very fast compared to partnership kind of a business .
In sole proprietorship there is also freedom and i can run it with more ease

 

[singlej007]

It all depends on the type of business, there are some business you don't have the idea but have the capital and you want to venture into it, you will have no choice than to have a business partner, but personally because of the trouble involves in partnership business, I always prefer to do a single ma CEO.

 

[Folaham]

partnership for now is the the best plan as i don't have enough fund for the ideas that i want to kick start right now. i need all the help that it is from genuine investor(s) with common interest as mine. with time, i can raise enough cash needed for the bigger plans that i have.
Sometimes we need to share the burden of starting something new so as not to incure too much a loss that will put us off when we are suppose to be surviving. Many are times great ideas never materialize because of insufficient start up capital.

 

[shakky2]

both businesses are relevant whether partnership or sole proprietorship depending on the situations surrounding such choice but the best to be chosen is sole proprietorship business if you have the capital to fund your business solely as all decisions is based on you and there will be no controversy in decision making

 

[Taimoor Jutt]

If the partner is your sincere one then partnership will be better than individuals, because it shares responsibility as you mentioned, if there is some ups and downs he will share your stress and loss.
If you do individual than you can take your decision, profit will be only yours.

 

[Hasan Raza]

I am in the favour of partnership when the individual don't have Capital to start the business. At this level you have no choice but sole proprietor is the best it give you space and Access to innovation. In partnership you do it it big level.

 

[Rashid]

Both options have their advantages and disadvantages too. If there are sincere partners then this business will be heaven to you, they will share losses,burden,stress, and they will do plans, solutions in unpleasant things, but we can not take decisions as we wish so, some people like individual to take their own decisions . I prefer in partnership if i would have sincere partners.

 

[Veetos12]

A business thrive well in either mode of management options, that is sole proprietorship and partnership but it all depends on who and who are involved when partnership is considered. Issues of trust and who has the highest shares often set in. Thus, I prefer sole proprietorship and bear risk alone also take profit alone.

 

[Sincerem]

I prefer sole proprietorship to partnership because I will have all the time to myself, I can comfortably implement any idea I feel will grow my business and would not have to explain to anyone why.

On the other hand, partnership business give you leverage to do bigger businesses and do big contracts. It also exposes you to new experiences.

All business have their own do's and don'ts. It is left for us to choose which one is best suited on us. Sole proprietorship business have its own advantages, one has the power to decide what ever things that goes around his own business. But in partnership, both bring their own ideas together. Sometimes conflict might bust up as a result of inappropriate dealing or acceptance.

 

[jay]

Sole proprietor please. I love to start up mine first before going into partnership. I will love to have an idea so as I'll not let my greed spoil the intention of what the business is all about. So it's sole proprietorship for me