Do you prefer partnership business ahead of sole proprietorship business?

[Samuel77]

As for me I will say yes I prefer partnership business over sole proprietorship business, this is because partnership business is between two individual who understand themselves and wishes to achieve one same goal and also all profits and expenses will be shared among both of them.

 

[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 prefer being a sole proprietor of my own business organization, than engaging in partnership business, I will like to take personal decisions on the business.

 

[Justin]

I don't see any problems with partnership business. In fact when you partner with another person to launch a business, you will not only had additional funds for the business but also lower risk.

 

[Spicywilfred]

Please I prefer sole proprietorship to joint partnership. Though some say it will be easier for joint partnership in business to deal with financial issues in the business. But I prefer sole proprietor because i am only accountable to my self

 

[Setho]

I have always maintained that a business would always flourish if two heads come together instead of just one person. And this is off course on the exception that the person has knowledge and is trustworthy.

 

[GIFTMICHAEL]

I'm working as a lone business person at the moment. I love working alone making the choices for my mini business to move forward the way i want. I don't want dual decision which might not fall in the way that pleases to me.

 

[Felixko]

Sometimes it depends on how big the business is, or how you plan to run the business. if the business is small, i think sole proprietorship will be the best because decision can easily be taken in that. and if the business is big, it needs partnership because it will not be easy for one person to run it.

 

[Richard92]

I think I prefer sole proprietorship than partnership, because partnership business with someone that you didn't trust can bring the business down, that's why I prefer sole proprietorship business because I like running business on my own than to partner with someone.

When it comes to the area of finance and ideas most people may have one and prefer to merge with another person that has the other but to me I prefer a sole proprietorship business than partnership because for sole proprietor business you are the owner of your business and you run it alone with full independence.

 

[tyrim88]

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.
However, as time goes on, if there is a need for expansion, and the person finds it difficult to take care if the business as a whole, then a partnership could be required for such business

The act you stated is very obvious in any business that has that drive to grow beyound a particular level.If a business desire to grow to a level where important critical decision has to be taken in detailed format deviod of only one individual input,then a partnership would be required at this point.
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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.
However, as time goes on, if there is a need for expansion, and the person finds it difficult to take care if the business as a whole, then a partnership could be required for such business

The fact you stated is very obvious in any business that has that drive to grow beyound a particular level.If a business desire to grow to a level where important critical decision has to be taken in detailed format deviod of only one individual input,then a partnership would be required at this point.

 

[Setfragil]

Partnership in business is good especially when one cannot afford to establish a business alone. If the business can be started without necessarily having huge capital but if you think you can cope with the issues that may arise in partnership you can go ahead to partner with someone.

 

[Setho]

I think I would always prefer the partnership because two are better then one and will make work to be divided easier but there should be a lot of trust and understanding first to go through.

 

[Hussain]

Sole proprietorship is more better than partnership. In partnership you have to face many problems and adverse consequences and In sole proprietorship you can make a decision freely.

 

[Kunkun]

Well it depends on some factors but everything being okay from the funds to other things then a sole proprietor is preferable, going into partnership definitely has its advantages you should just be careful with who

 

[Kane]

I do not know why partnership business model has gained a bad name. I find it quite good because you can not only use the funds of your partner but also knowledge and skills.

 

[Shigobad20201]

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 will only prefer partnership in business if I don't have the neccesary permit, document and money to fund the business alone, I love running my business single handedly because of the peace of mind thats attached to it.

 

[GIFTMICHAEL]

Right from my time on earth doing business I've not been in partnership, I'm not hoping anytime soon to be engaged in partnership.

 

[Mostee501]

For me it depends on the type of business because in some cases,i prefer partnership business and in other cases i prefer sole proprietorship business.

 

[Yaqoob Habib]

The most important thing is documentation. There must be a partnership deed and agreement that is legally binding. Not only in case the business collapses, but also helps when business grows so as not to have issues with ownership and equity in the buisness. Partnership is good when it involves the right person.

Pls let's contribute to this important issue so that upcoming entrepreneurs can learn from us.

If you want to feed your business in partnership,There should be a complete investigation about your business partner, what kind of man he is, is he an honest businessman If you work with honesty and hard work, it is possible that very soon your business will become a successful business..

 

[eLdavis]

Both have their own disadvantages and advantages i would prefer my personal business, as a sole proprietor i am not limited in any way in the sense that i dont have to wait for anyone. Before making any decision, therefore there is usually quick decision making.

 

[Razor1911]

Both have their own disadvantages and advantages i would prefer my personal business, as a sole proprietor i am not limited in any way in the sense that i dont have to wait for anyone. Before making any decision, therefore there is usually quick decision making.

Even though you want to keep your business simple, but there might some situation occurs when someone need funds to expand the business, at that time either you will go to bank or you have to partner with someone for funds.