Sole proprietorship and partnership which one is better?

[jay]

What's your goal and ambition? What's the capital you have to backup such ambition? These will help you decide which is better. The working capital is the determinant factor to consider here because with it you will know it to go solo or look for a partner so as to meet up with financing of the project.

 

[Kehinde]

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.

 

[Afeefah]

Both have their own advantages and disadvantages. In a sole proprietorship you get to control every aspect of your business your self and and make decisions your self, but the work load can be too much for one person the bigger the business gets.

 

[Richard92]

It is important to be a sole proprietor than being going into partnership, this will make you have full control of your business and also make fast decision when it matters most, but going into partnership you must always seek the concent of your partner before you can be able to do anything.

 

[Life drama]

Both are great to start with,but I will advise to start with sole proprietorship so that you will be prepared with dealing with partnership buisness by you must have mastered every scope of doing buisness,then you must find a worthy partners so that you won't be in trouble.

 

[Planet408]

I honestly prefer sole proprietorship. Sole proprietorship is way better than partnership. Some people who go into partnership is basically because they lacked the capital to start up the very business on their own and that is why they go into partnership.

 

[Ridorz]

The choice is belong to you, you can decide for what will favour you. But as for me I will prefer a sole proprietorship. the sole proprietorship is the way of running a business by only one person without partner, while the partnership is the way of doing business with a partner in which mean that the capital to run a business will donate by multiple person and the loose or profits will also share between/among them.

 

[Denuola]

It depends primarily on how you plan to structure your business. If you plan to be the sole owner,sole proprietorship is the option to choose but if you want to set up a business with someone else, you'll have to set up a partnership.

 

[Ifective]

It depends how well one can handle a business or how large the business is.
If the business requires a lot of capital and you have run out of options, it is best if you have a partner to support you in sharing both income and expenditure
Partners help share the risk of a business, they help to brainstorm and bring ideas for the business to grow.
If a business can be handled solely without any problem, then sole proprietorship is not a bad idea

 

[Victor-t]

With sole proprietorship, you get to input all the capital, make all the decisions, get all the profits and as well as face all the loss alone. But with partnership, everything is shared which includes the profits and the risks.

Sole proprietorship is far better than partnership business in many way, for instance any profit that a sole proprietorship man gain belong to him or herself alone while profit will be share equally under partnership business

 

[Dowenship]

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 would suggest you bring the idea of signing some agreement, just dear down and think about how you can improve the business and or of you can scatter the business at the end of the day. You guys should just sign agreement that will hold everyone responsible

 

[Jimmie150]

I will choose a sole proprietorship over a partnership because for me it is better than any other form of business. I will bear my risk alone and maximize my profit alone. I will also have rest of mind in many ways.

 

[Diamond07]

Partnering with an individual to set up a business can be quite challenging. Some people can't be trusted and there might not be equal efforts to run the business. Though, some businesses are better with partnership in terms of financing

 

[Milz]

If you plan to start a business and want to do it alone, that's perfectly fine. If you do not have basic knowledge of the business or ebough capital to invest, a partnership is your best option. Sign a contaract form for clauses and agreements legally.

 

[Blue house]

Sole Proprietorship or Partnership which is better? The appropriate response relies fundamentally upon how you intend to structure your business. In the event that you intend to be the sole proprietor, Sole Proprietorship is the alternative to pick. On the off chance that you need to set up a business along with another person, you should set up a Partnership.

 

[KvngMurphy]

Sole proprietorship is a one man business or a business owned by a single individual while partnership is a business owned by a group of people who come together to do business with a specific aim or desire to achieve a certain goal or Target.

 

[Ibrahim1]

As for me I will prefer sole proprietorship than partnership because I will do anything in my company and decided on what's best for my company to do as the best and also then correct my workers and discuss with them and what they lacking then provide does things for them so that the business can continue working and moving forward without anything but you can't do that in sole proprietorship business because you are not the only boss and you alone can decided on what to do on the business because you guys are two in number

 

[Tinaconcept]

For me sole proprietorship is better than partnership at a beginning stage because I will manage my risk alone, take my profit alone if I need help when the business have start growing I will get employees for support. Till the business gets to a stage where investors are needed.

 

[eojo2401]

Both the sole proprietorship and partnership Business has there own advantage and disadvantage. But to me I prefer sole proprietorship business because it gives you total control of the enterprise. Then the issue of distrust and betrayal is what makes me hate partnership between.

 

[Prettyjanie]

It depends on the kind of business you are about to go into, the amount of capital needed and modalities regarding how to get funds. However,Sole proprietorship for me is the best, you enjoy your profit alone, but you also get to suffer any loss alone too.