Sole proprietorship and partnership which one is better?

[Ryeetar]

Partnership, two heads they say is better than one. There are so many advantages of partnership compare to the disadvantages. With partnership there's less risk bearing as risk would be shared among the shareholders, there's greater chances for expansion, there's more availability of factors of production such as land, labor, capital.

 

[Ojonuyo]

If you find yourself in that position, I advise you become plain without being harsh to your friends and tell them the truth. You must know that not everyone can be trusted and if you do not see reasons to partner with your friends, then it's best you tell them the truth.

 

[Debola]

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