Is partnership a great way of making your business successful?

[Imran_Noori]

Many business owners can not afford all the expenses so they will need a partner, in most cases finding a good business partner will help your business to grow.

Is partnership a great way of making your business successful?

 

[Vehli]

Finding a partner is not easy because a dishonest partner can ruin your business and there are no shortcuts to success in a business

 

[ChrisG2010]

Finding a partner is not easy because a dishonest partner can ruin your business and there are no shortcuts to success in a business

I'm going to piggyback this statement.
I almost started a business (Security Patrol Firm) and my partner was someone I trusted at the time but soon became someone who used me for money and then never paid me back and completely ditched me. I can only imagine how it would have been if he owned half of the company as well.

 

[Kane]

If you have everything in a written contract that clearly states responsibilities (including finances), I believe partnership businesses can grow really big. The major issue with a partnership business is finance, if you have a written contract, it is less likely that disputes will arise.

 

[Niyi]

Partnerships can be a great way to make a business successful, as they can provide access to new resources, customers, and expertise. However, it's important to choose a partner whose values and goals align with your own, and to have a clear and detailed partnership agreement in place.

 

[Lens]

In my home country, 80% of partnership business have not been successful because it always end up in a conflict due to bridge of agreement. It is requisite to seek funds that could be enough to run the business instead of entering into partnerships.