Do you prefer partnership business ahead of sole proprietorship business?

[Nicklas22]

Yes I prefer partnership because in partnership one individual doesn't bears all the burden and all the expense
In partnership different idea is been put to work and different individuals with different mindset and thinking are involved
In partnership there's much more profit but it's been shared by all the members involved in the partnership business.

 

[Ralphjoe]

I prefers the sole proprietorship over the partnership kind of business because of the Independence that I get to enjoy and also take decisions for my business without involving any other person. I will also get to keep my profit without worrying about sharing it with any other person. The only reason that may make me too involved in partnership is when I don't have the capital to start the business that I plan on starting.

 

[Bookwormlux1]

I would only settle for partnership if the person involved is trustworthy and has got a lot of experience that would be useful in keeping the business. This way, I am certain that there won't be much losses. Otherwise, sole proprietorship is bae.

 

[Adebayonle7]

Sole proprietorship will be the best option if one is able to gather all the needed capital to start and run the business. If this is done, it means all the decisions, earnings, and others belong to this one particular person. It is better to avoid future disappointments and betrayal but partnership helps individuals to bring ideas together in one. Such ideas and planning cannot be done by one single person.

 

[Trexxxy]

In as much as I like the autonomy of a sole proprietorship business, I think at some point you would some other outlook on the state of things. That is why I would prefer the partnership, at least the duties and roles are divided, even investment funds are shared equally.

 

[Robrown83]

I prefer sole proprietorship business to partnership business because no matter what profit you derive from the business is mine likewise all the expenses and responsibility to make the business grow is mine. And if you also have greedy partner he want every profit be his own and he may kill you.

 

[Adetayo100]

Advantages of a partnership include that: two heads (or more) are better than one. your business is easy to establish and start-up costs are low. more capital is available for the business.

 

[Niftyyem]

I have come across this question severally and I would maintain that although owning a business alone has many profits, I cannot deny that partnership gives more footing to a business especially where there is a prospect of securing contracts from others.

 

[Setho]

Am a person who freaks out on doing a project alone, though I tend to invest so many time to ensure I always get best results I always be live in the power of two heads especially if it is sustaining or starting out a business. This though also depends on the availability and quality of the partners available and how I can work with them.

 

[btaliat]

Not really. The only thing that will even make me consider partnership is if I don't have much money or the required money for the business I intend to start. Aside that, I don't see any reason why I will want to be involved in partnership.

 

[Alexandoy]

My choice in making a start up is always the sole or single proprietorship instead of a partnership. In a single proprietorship you are the boss of your business and no one else while in a partnership naturally there would be you and your partner as the bosses regardless of the position that you handle. When there is a disagreement or dispute that will be a deterrent to progress especially when the business is a medium-scale because there are employees that can take sides to create factionalism.

 

[Kiwi]

There are advantages as a sole proprietor and also choosing to go into partnership. Sole proprietorship is far better than partnership if you have you the capital because you are the boss of your business and you can take decision without waiting for any partners and in terms of profit you have the profit all to yourself. But partnership you can't take decision alone and when it comes to profit you have to shares it among the partners. Partnership may lead to conflict and dissolution of the business.

 

[Okeh]

If I have all the required fund, I will be going into sole proprietorship.

It's just a one man business, you don't need anybody to interrupt your decision. You run it all alone, make the decisions by your self, no one to share your profits with or even your loss.

partnership comes with alot of its own problems, mostly if your partner isn't competent enough. It will definitely ruin the business.

 

[Usama Iqbal]

I will prefer to partnership business. There are many factors in partnership that make a business successful . If we have no idea in business our fellow can help us. Because he has many knowledge may be the passion and interest towards the business of our fellow higher than us . So partnership in any business makes to everyone comfortable.

 

[Kehinde]

Corporations enjoy some tax benefits that sole proprietorships and partnerships do not. ... Also, the corporate tax rate is usually lower than the personal income tax rate. The owners of sole proprietorships and partnerships pay income taxes at regular rates on the profits they earn from their companies.

 

[Hamza1]

I prefer sole proprietorship business more than partnership business because I don't have to share anything about my business with anyone. I wouldn't need to ask other person before making a decision. It can make you more confident when you make decision on your own.

 

[Aotosyno]

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 proprietorship to partnership in the sense that sole proprietorship is a one man business therefore you have to be serious with the business knowing fully well that if you don't work hard money won't come. Secondly it's gives room for you to share your profits alone as we know at times that some partners can be evil in terms of profit sharing especially when its a big money involved they either assassinate or rob the other partner likewise the loss and you don't have to blame anybody for the loss thereby taking into considerations the situation that brought about the loss and the need to be careful next time.
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I prefer sole proprietorship to partnership in the sense that sole proprietorship is a one man business therefore you have to be serious with the business knowing fully well that if you don't work hard money won't come. Secondly it's gives room for you to share your profits alone as we know at times that some partners can be evil in terms of profit sharing especially when its a big money involved they either assassinate or rob the other partner likewise the loss and you don't have to blame anybody for the loss thereby taking into considerations the situation that brought about the loss and the need to be careful next time.

 

[Quert]

Yes because for various parts of your market, collaborating with someone will give you access to a wider range of expertise. In order to help you develop the business, a good partner may also bring expertise and experience that you can lack, or complementary skills.

 

[Kamon c4]

I prefer partnership over sole proprietorship business. There’re lots of advantages and disadvantages that comes with a partnership business. Partnership business offers me shared responsibilities in which capital, decision making, labour and profit are all shared by the partners. Also a partnership business can comprises of more than 2 people. In this case, liability may be shared within the partners. In cases where the liabilities is also a share responsibility of all, the company will be PLC or LC. However, some partnership companies do not have shared liabilities such company is referred to as limited liability company (LLC).

 

[Olaoluwa Abraham Abiodun]

I will rather go for partnership business, and the reasons is that in partnership business the risks bearing are shared between the numbers of partner's in the business, also when making decision, it gives all partners an avenue to bring in their ideas and when approved financing the project will be a contribution between both partners. Execution of project are made easy when you are into partnership business.