One owner, or a group of owners, what is your preference?

[Richard92]

My dear it depends upon your capabilities and interest in your work. Either you have just capital and no experience then you will have to do welcome an experienced person but if you have both then you must start it individually.

I prefer to become a sole proprietorship than to go into partnership business because most times you have trust issues and with this the business cannot move forward

 

[kay169]

Sole proprietorship can help you monitor your business and make decisions on your own and avoid sharing you profit but partner ship can help you with more capital it’s both good depending on what works for you

 

[GIFTMICHAEL]

For a multi-ownership business I would prefer the corporation. It has a setup that avoid the issues that partnerships are experiencing. The leaders of the corporation elect their chairman and directors while the chairman is the one that appoints the president who will handle the operation.

That's how it is in the other way round too. And sometimes the CEO can decide to be the president and appoints managers and other staffs.

 

[Jlife]

You are right. Going into partnership with people needs a lot of guts to do. If I must go into partnership with anyone, there must be a legal signed agreement by an attorney.

Partnership business could have been the best type of business only if you are going with a trusted person, sometimes people you are doing partnership business can seriously turn against you in the business when things are not done the way they wanted.

 

[Setfragil]

Partnership business could have been the best type of business only if you are going with a trusted person, sometimes people you are doing partnership business can seriously turn against you in the business when things are not done the way they wanted.

If I have to go into partnership with anyone, I will need to have my heart in my mouth. Even your so called trusted person can change and work against you when the business decision you made does not favour him.

 

[Richard92]

My dear it depends upon your capabilities and interest in your work. Either you have just capital and no experience then you will have to do welcome an experienced person but if you have both then you must start it individually.

I prefer one owner which is sole proprietorship can a group owner owner of a business may be able to make decision independently on his business without no obstacles.

 

[Jlife]

If I have to go into partnership with anyone, I will need to have my heart in my mouth. Even your so called trusted person can change and work against you when the business decision you made does not favour him.

All business decision you have to make must favour the both of you before a deliberate agreement is being taken, you don't have to do an arrangement that will be for yourself alone but everyone.

 

[jeff87]

What is your preference when it comes to owning a business? Do you want to be the only owner? Or do you prefer the idea of owning a business with a group? I think a group is more appealing, as we have more hands on deck and can deliver more. And we can all have a vote on what to do instead of one voice.

As well, I don't think I'd want to do it all alone. I'm not one for hiring people, so I obviously need a person to handle that, and then some.

I would prefer owning the business personally. I don't like others to be co owners with me. I would like to be the one who calls the shot. I don't like to be yelled at by other angry bosses.

 

[Setfragil]

All business decision you have to make must favour the both of you before a deliberate agreement is being taken, you don't have to do an arrangement that will be for yourself alone but everyone.

That is not how partnership works. When you're into business partnership, you will share resources according to what you both agreed upon and why you contributed, it might be 70/30, 50/50 or 60/40. You also take and share responsibilities of some decision making role which any of the parties can make independently.

 

[BrolySSJ]

What is your preference when it comes to owning a business? Do you want to be the only owner? Or do you prefer the idea of owning a business with a group? I think a group is more appealing, as we have more hands on deck and can deliver more. And we can all have a vote on what to do instead of one voice.

As well, I don't think I'd want to do it all alone. I'm not one for hiring people, so I obviously need a person to handle that, and then some.

I think that it all depends on your personal preference because a single person running a business can be good in the sense that you will be able to make decisions quite easily however if you have multiple people you can get different points of View that can actually help to promote and take the business even further.

 

[Jlife]

That is not how partnership works. When you're into business partnership, you will share resources according to what you both agreed upon and why you contributed, it might be 70/30, 50/50 or 60/40. You also take and share responsibilities of some decision making role which any of the parties can make independently.

If for example you are sharing responsibility 70/50, you also need to understand that whatever problems that comes into the business you are the taking 70% and whatever profit that comes into the business you also have to take 70%, you shouldn't leave problems to be shared 50/50 in a business when you are taking profits 70/50, I don't know if you understand.

 

[McIrx]

As far as I'm concerned nothing beats sole ownership. After establishing my business as a sole owner them I can solicit for investors who will have a stake in it but I will always retain the controlling stake. My business is my idea and I am the one who knows why I started it in the first place. So it's only normal if I have the final say as regards how the business is run.

 

[Setfragil]

Sole proprietorship can help you monitor your business and make decisions on your own and avoid sharing you profit but partner ship can help you with more capital it’s both good depending on what works for you

You are totally right. It depends on what you want in business. Some people want to start their business big without having the capital to fund it which makes them to go into partnership with someone to raise capital together.

 

[Bousine123]

One owner will be much preferable to me. More owners will result in conflict of ideas, and it may also result in problems in taking decisions.

 

[Mayox25]

As much as group owners may sound good it will hamper the progress of the business. In reaching consensus on issues may be difficult whereby delaying quick action that needs to be taken.

 

[Jlife]

Most times if a business is well managed by a group of people with one mind there is a higher possibility that the business can Excel more than one man ownership,it depends on the type of the business.

 

[Setho]

I do usually refer to start a business with a group of owners. This is because with this the work can be shared among them leading to greater efficiency and also work being done on time . It also means that there will be opinions coming in from every angle.

 

[Setfragil]

It depends on what you want and the capital required for the business. Some people go into joint ventures because of their inability to fund the business alone.

 

[Dagm1]

Establishing a company can easily include little bit of greater than publishing some calling card, or even it might involve employing a business lawyer to prepare business charters, contracts, as well as short posts of unification. As the types of company possession end up being more complicated, the expense connected with developing business likewise enhances.

 

[Alexandoy]

As far as I'm concerned nothing beats sole ownership. After establishing my business as a sole owner them I can solicit for investors who will have a stake in it but I will always retain the controlling stake. My business is my idea and I am the one who knows why I started it in the first place. So it's only normal if I have the final say as regards how the business is run.

That is good to protect your control of the business. No matter how many investors you have but you need to maintain the majority shares of the ownership otherwise you may lose the business entirely.