Sole proprietorship and partnership which one is better?

[Nurudeen]

I will prefer to start with a sole proprietorship which is a one man Business because in partnership if your partner have any negative attitude to work it will really affect the productivity of the company and after about sharing formula there will also be problem so I don't like it at all

 

[Abbas ali]

A partnership has several advantages over a sole proprietorship: It's relatively inexpensive to set up and subject to few government regulations. Partners pay personal income taxes on their share of profits; the partnership doesn't pay any special taxes.

 

[Thosynho]

My dears I am going to start a small business and my two friends are saying me to do partnership with them. But I don't know what I say to them because I couldn't protest to them. So please guide me what I do now??

Both the sole proprietorship and partnership business have their advantages and as well as disadvantages. A partnership business business tends to grow faster and bigger than sole proprietorship business. This is because it even involves more than two persons and two good heads is better than one.

 

[Donolatunji]

Partnership is better if they are genuine friends. Some times partnerships begat sole proprietorship. If you are the principal role figure or the chief architect of the business or you own the largest share then you are just one step away from been a CEO.
Give them a try.

 

[Nimra Saeed]

My dears I am going to start a small business and my two friends are saying me to do partnership with them. But I don't know what I say to them because I couldn't protest to them. So please guide me what I do now??

According to my opinion, no one should indulge into partnership because partnership is not a good deal in the long run. One should seek help from friends in business but not indulge into partnership.

 

[Nimra Noor]

I

My dears I am going to start a small business and my two friends are saying me to do partnership with them. But I don't know what I say to them because I couldn't protest to them. So please guide me what I do now??

I think so sole proprietorship is better because in cause of sole proprietorship there is no cause of sharing and many business paterners usually fight at the end but if you don't have enough money and you also have trust worthy patner then you can also do partnership

 

[Hasan Raza]

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I think so sole proprietorship is better because in cause of sole proprietorship there is no cause of sharing and many business paterners usually fight at the end but if you don't have enough money and you also have trust worthy patner then you can also do partnership

Yes my dear I have lack of capital to start a reasonable business because I wanna start multiple products sale as i mentioned above. With this my friends are in government sectors both and I have leisure time after my job to do business. That's why I want to share it with friends.

 

[Nimra Noor]

Yes my dear I have lack of capital to start a reasonable business because I wanna start multiple products sale as i mentioned above. With this my friends are in government sectors both and I have leisure time after my job to do business. That's why I want to share it with friends.

Yes if he is trust worthy and don't of fighting nature means if there is some lose accidentally then he will not ask you to give him share and he want to leave business then you can start working with him may I hope it will be good for you all the best

 

[SayOdumadey]

Sole proprietorship is actually better than partnership if you ask me, in the sense that you're totally in charge of the business unlike partnership where you don't just wake up and do things on your own.you actually have to seek other's opinion about any decision.

 

[Abibatabosede]

Partnership may sound interesting due to share of financial responsibility. But I don't buy the idea of partnerships. If you are able to establish a business on your own you stand to gain a lot as the business is running through your targeted goals and objectives.

 

[Nma]

I prefer sole proprietorship to partnership in my business.... most times partnering with others in a business affects the business negatively because one party might be lazy and lackadaisical while the other is hardworking and diligent thereby sabotaging the progress of the business.... I wouldn't want anyone to do such in my business

 

[Donkiz]

I personally prefer sole proprietorship to partnership, because sometimes the issue of having multiple owners which means having to sit down and discuss before a decision to taken, usually slows down the progress of the business. So if you can start the business alone, it's better you do it by yourself.

 

[Shayo]

It all depends on what you want.
Partnership is really good and more profitable, two heads are better than one. If you have partners, the business will most likely do well than if you are running it alone. With partnership, you get more ideas, more funds.
You can consider sole proprietorship as well, and your friends can still work for you as employees.

 

[Chumzy]

It depends on what you have already and what you still need to do business. If you have the necessary capital and then you also have the managerial knowledge to carry the business. Then you don't need to add another person for any reason but then if you don't then you can get someone.

 

[Nicklas22]

A sole proprietorship is limited to money he can invest in the business, loans from family and friends and third-party credit.partnership enable you to share the financing and operational burden. You give up equity in your business, but you gain additional resources that can help the business expand more quickly.

 

[Divulgence]

I will go for partnership because with partnership there will be more capital to invest in the business.
The losses will be borne by all the partners involved. Unlike the sole proprietorship who will bear all the losses and may put an end to the business existence. A good business person won't put all his resources into a business

 

[Mariyam]

My dears I am going to start a small business and my two friends are saying me to do partnership with them. But I don't know what I say to them because I couldn't protest to them. So please guide me what I do now??

A sole proprietorship is an unincorporated entity that does not exist apart from its sole owner. A partnership is two or more people agreeing to operate a business for profit. The Partnership firm is governed by the Partnership Act and a Sole Proprietorship is not governed by any specific statutory body.
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My dears I am going to start a small business and my two friends are saying me to do partnership with them. But I don't know what I say to them because I couldn't protest to them. So please guide me what I do now??

A sole proprietorship is an unincorporated entity that does not exist apart from its sole owner. A partnership is two or more people agreeing to operate a business for profit. The Partnership firm is governed by the Partnership Act and a Sole Proprietorship is not governed by any specific statutory body.

 

[Okeh]

Sole proprietorship in other word is a one man business. He or she makes the decisions that run the business and takes the risks and the profits alone.

For me, I prefer to run a sole proprietorship. It will enhance my skills and experience on business

 

[Dapoyemi]

Sole proprietorship is better the only thing about it is that the owner bears the risk all by himself and would find ways in countering losses while partnership is also good in the sense that there's available workforce so work is shared and interpersonal relationships would also be built. Jobs would treated at a a fast rate due to availability of personnel.

 

[Zamaney]

A sole proprietor is limited to money he can invest in the business, loans from family and friends and third-party credit. Partnerships enable you to share the financing and operational burden. You give up equity in your business, but you gain additional resources that can help the business expand more quickly