Do you prefer partnership business ahead of sole proprietorship business?

[Jonaville1]

Both have their advantages and disadvantages. For sole proprietorship, the expenses, risks and debts incurred in the business management rests solely on him. This goes for the workload too.
In partnership however, all of these are shared, but so is the profits. So it all depends on which one you are comfortable with.
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Both have their advantages and disadvantages. For sole proprietorship, the expenses, risks and debts incurred in the business management rests solely on him. This goes for the workload too.
In partnership however, all of these are shared, but so is the profits. So it all depends on which one you are comfortable with.

 

[mubinadaddy]

As for me I choose sole proprietorship business over partnership cause I love to be my own boss and take decision on my own without not wait to inform someone first before taking decision. In partnership business it has advantage and disadvantage but you running the business as a sole proprietorship you are on your own.

 

[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.

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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That's the problem of partnership business initiative. The other partner might have bad motive when the business have prospered a lot and million funds are entering into it. He might think so bad assassinating the fellow cos of greed.

 

[Ibrahim1]

I love to be sole proprietorship business than partnership business because most of the partnership business nowadays are very risk and moreover they also destroy your business when you thinking of how the business going to move on then they only busy flexing and painting the town red but just want to be my own boss because I will able to control my business anyhow I like and want and tell them what I want than someone telling me this how it must be because they will want all they say to come to past and acting as the boss

 

[Ridorz]

I will like to be a sole proprietorship in a business, because I do not want to have my business with anybody. I want to share my business risk and profits with my self I don't want to share it with anyone. And then other reason I prefer a sole proprietorship is that some partnership may not serious with a business.

 

[Sincerem]

I will like to be a sole proprietorship in a business, because I do not want to have my business with anybody. I want to share my business risk and profits with my self I don't want to share it with anyone. And then other reason I prefer a sole proprietorship is that some partnership may not serious with a business.

Okay, I heard you right, its good as you want to operate alone in a business set up and not partner with anyone that wants to ruin your business because of the so called partnership. Where you'll be struggling to make a better business profit end, to lift the business higher, your partner is busy dancing and playing around with no genuine plans to make the business grow.

 

[Ridorz]

I

Okay, I heard you right, its good as you want to operate alone in a business set up and not partner with anyone that wants to ruin your business because of the so called partnership. Where you'll be struggling to make a better business profit end, to lift the business higher, your partner is busy dancing and playing around with no genuine plans to make the business grow.

Said it because I do not want to reliant on any body before I make decisions, and be expecting anybody to contribute a money before I can finance my business as far that I have my capital to start Business. Even, if I don't capable to start from big business, I rather Start from small than to be in a partnership business. It's also very dangerous because some people can assassinate other because of money, if they gain a good profits from business and they will want to own all the money.

 

[Prettyjanie]

Personally, I prefer sole proprietorship in business than to go into partnership for obvious reasons. Though in some cases, partnership is inevitable, and in such a case, there has to be an agreement that will be binding on both partners i.e partnership agreement.

 

[Kinglegend01]

I think I would prefer sole proprietorship over partnership because it out outways partnership type of business in advantages.A very important advantage to me is decision making, as a sole proprietor you can make speedy decision without any interruption but in the case of partnership you need the full consent of your partner before you can make any valuable decision

 

[Akinwale701]

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??

There is a way to combine both in such a way that you'll bring out the best. It is much better to start with partnership, during the course of the partnership, one would gain a lot of experience on how the business can be run solely. Along the line, one can then pull out and go his or her separate ways to establish sole proprietorship. I think it is better this way than any other combination.
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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??

There is a way to combine both in such a way that you'll bring out the best. It is much better to start with partnership, during the course of the partnership, one would gain a lot of experience on how the business can be run solely. Along the line, one can then pull out and go his or her separate ways to establish sole proprietorship. I think it is better this way than any other combination.

 

[Gilead]

personally i will always choose sole proprietorship over partnership. I prefer having all my profits and losses to myself rather than sharing it with other partners. To even see a good partner these days is very rare so whats the trouble for.

 

[Haiqa umair]

Many small business owners face a tough decision when starting a business. Will they start the business all on their own, or will they seek others to help in their venture? This ultimately comes down to whether they want to pursue a sole proprietorship or a partnership. In this article, we are going to dive into the sole proprietorship vs partnership dilemma. We will explain each of these classifications, and discuss the good and the bad aspects of both.

 

[Jlife]

I'll prefer it to go into a partnership business because partnership business is nice when you do it with trusted individual or family members,what make partnership business to be bad is because there is a higher risk of disagreement between both parties, I like partnership business.
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I'll prefer it to go into a partnership business because partnership business is nice when you do it with trusted individual or family members,what make partnership business to be bad is because there is a higher risk of disagreement between both parties, I like partnership business.

 

[Sake]

I prefer sole proprietorship business not because I don't want to share the burdens or because i don't want to share profits and management but because it's hard to completely trust someone and it's hard to know the person is competent or reliable enough.

 

[Zamaney]

benefit of a partnership over a sole proprietorship 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 partnership agreement

 

[Draysongz]

Personally, I prefer partnership because it creates space for check and balance, a partnership business is always more disciplined than a sole proprietorship business, in partnership business drastic decisions can't be made because two people are making that decision. Like they say "two heads are better than one"

 

[Quert]

A corporation or limited liability company may be a better choice if you own substantial personal assets that you will not invest in the company and do not want to put at risk. ... The life of partnerships depends on the owners, unlike companies, which operate independently of their owners.

 

[Eyiteepraise]

There are many advantages in

 

[Blessedsam60]

From my own perspective, I really like partnership business as this business makes the burden, responsibility and others easy for one. But the major challenge here is trust between the parties involve.
But partnership business allows you to go extra as they said two heads are better than one.

 

[Eyiteepraise]

There are many advantages in establishing a sole proprietorship business,some of which are:
Closeness of the employee and employer.
Profit is owned by the owner of the business.
Capital requirement is small,etc.

I would rather go for a sole proprietorship.