Do you prefer partnership business ahead of sole proprietorship business?

[Neeta313]

Sole proprietorship is better because you know that you will gain all the profit from that business, but you bear all the risk. When doing partnerships, in as much as you all will share the risks, you can equally have issues with your partner because you all have different ideas that you will want to implement in your business and in some cases when partners split, it can retard the business growth.

 

[DareIsrael]

I can definitely go into business with a trust worthy business partner. This way our capital can be shared and also we can expand the business in a bigger way. But if i have the capital to go in big all by myself, i'll definitely go in alone.

 

[Sparrow001]

Well for me if the funds is there sole proprietorship is the best... All the activities and affairs of the business is yours and yours alone... Partnership business though is good o but with the problems and challenges that comes with it... I prefer the latter

 

[Sheyemanu]

If I am being honest here, I wouldn't like to go into a patnership business with anybody, there are a lot of risks attached to a patnership business. Your partner's loss could affect you, and lawfully some of your partner's actions might affect you financially. I prefer sole proprietorship as that is what suits my personality

 

[Joseph555]

Sole proprietorship is wonderful business plan likewise partnership, investors could have love to own a one man business but when such individual can not provide the needed resources hence the need for a reliable partner to aid the business.

 

[Davis]

I prefer partnership business to sole proprietorship. In partnership, apart from sharing the risk, ideas flows.

 

[tuna89]

Anytime, anyday, i would always consider sole proprietorship, i have noticed that some partners do not have the same thinking or goals as you have, some have ulterior motives and are not always ready to follow the business plan strictly, these are some of the major causes of clashes and separations between partners, i would rather establish myself and employ an experienced employee who is innovative and forward thinking.

 

[GIFTMICHAEL]

In partnership business the both partners share both the gain and the loss.
If the company tries to record some set back the problems will be shared among them.
Sole proprietorship business is the type that one person will suffer the consequences alone.

 

[Asma]

I prefer sole propritership because in partnership there are many issued between partners.. sole propritership is easy to handle by one person without others interupptions.

 

[WhiteHouse]

The answer usually depends on how you plan your business. If you intend to become a owner, a single proprietorship is an option. If you want to start a business with someone else, you need to start a partnership. When setting up a business, one of the most important questions you need to consider is what it needs. The most popular option for entrepreneurs is self-employment. However, self-employment is best when the company has an owner; Sometimes it is necessary or desirable to have another party. In this case, a joint venture model may be appropriate for your business.

 

[Roysnickz]

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??

Each has it's perculiar advantages and disadvantages.
Should the business be a big one, I will prefer a partnership where comparative advantages will be utilized in running the business.
Otherwise, I will prefer a some proprietor.

 

[Ojonuyo]

Partnership to achieve a business plan or idea is good and it all depends on the situation at that point in time. I would go into partnership when i do not have the required knowledge and the capital to start up the business. When reverse is the case then I would sponsor my business.

 

[Adexgrace]

Without thinking twice I will go for sole proprietorship and manage my business all by myself. Because with that I be the boss of myself and there won't be fear of other partner withdrawing capital or acting funny which can result into the downfall of the business.

 

[Eodine]

I would prefer a partnership over private liability company because of the limitless participation of people in the sense that you can always add more members to pool resources from but it just needs good planning.

 

[Segshowee]

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 would go for partnership business because two heads they say is better than one. Business thrives when there are more capable hands to push it forward. Also, paucity of fund would be easy to handle since not just one individual is involved.

 

[Chibson]

Partnership business is better because when there is loss, they both parties get together and look for ways to get the money in order to get the business back in shape. Partnership business in is better in the sense that, it is run by two or more persons which means that more than one person brings the idea used a running the business.

 

[Sincerem]

I would go for partnership business because two heads they say is better than one. Business thrives when there are more capable hands to push it forward. Also, paucity of fund would be easy to handle since not just one individual is involved.

Just as I've always said, both partnership business and sole proprietorship business have their own flaws and benefits too. I don't see anything bad with partnership business, its still a good one if you have a good partner to drive the affairs of your business.

 

[solomonmali]

To me I prefer sole proprietorship, I love being the king of my empire, in sole proprietorship all risk is on the owner he is accountable for the outcome of its operations while in partnership its risks are divided among its members, before any decision is taken members must sit to discuss weather to be implemented or not, sole proprietorship is the best to my understanding on both system of operations.

 

[Sincerem]

To me I prefer sole proprietorship, I love being the king of my empire, in sole proprietorship all risk is on the owner he is accountable for the outcome of its operations while in partnership its risks are divided among its members, before any decision is taken members must sit to discuss weather to be implemented or not, sole proprietorship is the best to my understanding on both system of operations.

Sole proprietorship is my own choice too. I love managing my own business on my own being my own boss and not sharing any business ideas and agreement with any one cos i don't like disagreement sometimes with a partner cos i know at some point disagreement comes in between.

 

[shakky2]

both business recommendation are good whether partnership or sole proprietor depending on the current situation but if it is the case that you have enough capital and business ideas,it will be best to engage in sole proprietorship as this help in preventing fraud or violence in partnership business by partners
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i prefer a sole proprietorship business if i have what it takes to venture into the business myself interms of capital and business ideas.sole proprietorship business is safer than partnership business as it prevents the collapse of business with too much opinions
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partnership business is a very good business option as it helps in the generation of funds to boom the business and also help in getting business ideas from the partnership.also there will be different suggestions of what steps to take and how this can be executed