Do you prefer partnership business ahead of sole proprietorship business?

[eLdavis]

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.

True, in such situations you have no choice but to have a partner when a business starts growing you can nolonger do it alone. I would advise in such situations search for a partner with the same vision

 

[Haveit]

I actually think it's better to strat off with being a sole proprietor in a business as that would help you realize your strength and weakness before venturing into a partnership so your weakness isn't capitalized upon.

 

[Sincerem]

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.

One reason why people enter into partnership business is when it comes to money degradation. If you have finance, surely you won't like to be attached to partner.

 

[Lens]

I have done a partnership business and I discovered that it doesn’t work for me. I prefer a sole business

 

[Dowenship]

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??

Yes definitely! I prefer sole proprietorship to partnership. If the company eventually go global, i will have rest of mind concerning the company.

 

[Josemendez]

If I have the money to start a business alone then I don't see any need to have a partner in the business because most times problems do come out from it.

 

[Sincerem]

Yes definitely! I prefer sole proprietorship to partnership. If the company eventually go global, i will have rest of mind concerning the company.

It will make you to be in full control of your business assets and not having mix responses from any one cos you aren't in partnership. So proprietorship business gives an entrepreneur the option of being the boss.

 

[Dowenship]

True, in such situations you have no choice but to have a partner when a business starts growing you can nolonger do it alone. I would advise in such situations search for a partner with the same vision

Hmm... search for a partner with same vision, its sound like a motivational word that is yet to experience even same vision partner.

 

[eLdavis]

Hmm... search for a partner with same vision, its sound like a motivational word that is yet to experience even same vision partner.

I have seen whereby both partners usually have clashes because they both have their own way they wish to achieve results. Or they both have different point of views on where the business should go. This could lead to slow results and delay in decision making. But if both partner shares the same vision there would be quick decision making with better results

 

[Ub40]

You have really done justice to the topic of discussion above. Just as you have rightly said different people will have different type of business in mind according to their aim or purposes for setting up such businesses. Both business type have their advantages and disadvantages. But personally, I would go for the sole proprietorship kind of business. That is my opinion.

 

[Psalmseen]

Though, it all depends on the kinda business I wanna go into. If the business doesn't require huge capital that I'll have to raise partners so we can pool resources, I'll prefer sole proprietorship thousands of times

 

[Dowenship]

I have seen whereby both partners usually have clashes because they both have their own way they wish to achieve results. Or they both have different point of views on where the business should go. This could lead to slow results and delay in decision making. But if both partner shares the same vision there would be quick decision making with better results

Yes you are right if both have same vision and they are working in rhythm with each other, they will definately grow fast the main problem is after the business they partnered together have grown very well, one will start planning to gain full assess of the company this can cause big problem between them.

 

[eLdavis]

Yes you are right if both have same vision and they are working in rhythm with each other, they will definately grow fast the main problem is after the business they partnered together have grown very well, one will start planning to gain full assess of the company this can cause big problem between them.

This is another major issue again, i have seen cases whereby out of greed, they would want to take full ownership of the business just so they take can control of the resources and .manage it as they want to

 

[Razor1911]

This is another major issue again, i have seen cases whereby out of greed, they would want to take full ownership of the business just so they take can control of the resources and .manage it as they want to

That is why even when you are doing business in partnership let it be your family or friend, you need to legally sign in agreement, so that in future no such mishaps occurs.
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That is why even when you are doing business in partnership let it be your family or friend, you need to legally sign in agreement, so that in future no such mishaps occurs. It is best to do all the things legally.

 

[Dowenship]

It will make you to be in full control of your business assets and not having mix responses from any one cos you aren't in partnership. So proprietorship business gives an entrepreneur the option of being the boss.

You will even have peace of mind, is not that one partner will be hunting for your life so he could take over. I hope this isn't coming from to much of Nigerian movies😁

 

[Sincerem]

You will even have peace of mind, is not that one partner will be hunting for your life so he could take over. I hope this isn't coming from to much of Nigerian movies😁

Laughs, it might come down to Nigerian movie if we're in such fizzle with a partner. That's why we should start alone to avoid another Nigerian movie scene.

 

[Sotherefore]

I do not like a partnership business, I like my own personal business and that is the type of business I will do in the future when I am ready to start up an offline business, a lot of problem always arises with partnership business.

 

[Kane]

Depends on the funds I have at my disposal and also the niche of business. My first and second businesses were partnership businesses, however, my third business was sole proprietorship.

 

[Sincerem]

Depends on the funds I have at my disposal and also the niche of business. My first and second businesses were partnership businesses, however, my third business was sole proprietorship.

That's it, it depends on the capital and the business ideas. When the funds are lacking, it can make a potential entrepreneur to merge with one that has capital to assist, in order to make those ideas come to fruition.

 

[Emmado]

So proprietorship business is the best for me, because with this, you have an opportunity to control and manage your business the way you want them, it require a large amount of money to start but it is the best form of business.