Sole proprietorship or Partnership in business, which one do you prefer?

[Kennysplash]

When you want to set up a business, you have the choice of setting up the business for yourself only or to partner with another person. Both have their advantages and disadvantages, but the decision is up to the business person to choose.
It's best to choose the one that will ensure the growth and success of your business.

So if you were to choose between partnership and sole proprietorship which one will it be?

 

[Ernestnari]

I don't have strength for someone to stress me. I love to do my things myself. I prefer sole proprietorship business. Partnerships always ends up in chaos, problems and fights.

 

[Immilash1]

I don't have strength for someone to stress me. I love to do my things myself. I prefer sole proprietorship business. Partnerships always ends up in chaos, problems and fights.

That's same as me, I don't really like anything that has to do with partnerships, if you have the knowledge yourself you can decide to go for it, that's what I also like.

 

[Jonaville1]

When you want to set up a business, you have the choice of setting up the business for yourself only or to partner with another person. Both have their advantages and disadvantages, but the decision is up to the business person to choose.
It's best to choose the one that will ensure the growth and success of your business.

So if you were to choose between partnership and sole proprietorship which one will it be?

I have always wanted a sole proprietorship business. This is because I love to have my business on my own and I prefer it to working for someone or working with someone

 

[Immilash1]

I have always wanted a sole proprietorship business. This is because I love to have my business on my own and I prefer it to working for someone or working with someone

This has advantage an disadvantages at the same time, you might like it that way but sometimes it doesn't work out the way we like, you know sometimes people change especially when money is included.

 

[Jonaville1]

This has advantage an disadvantages at the same time, you might like it that way but sometimes it doesn't work out the way we like, you know sometimes people change especially when money is included.

Exactly
I have even faced the advantage sometimes ago when things did not go fine. I made so many wrong decisions and I ended up shutting down the business because of wrong decisions.

 

[Good-Person]

Exactly
I have even faced the advantage sometimes ago when things did not go fine. I made so many wrong decisions and I ended up shutting down the business because of wrong decisions.

Well, your business partner could offer many great solutions to the problems, especially if the partner has more experience. The fact remains that this might be one of the advantages of partnership-based business.

 

[Mayorla]

I actually prefer sole proprietorship to partnership in business. I find it more easy to run, since I am the one responsible for taking decision. If I see someone who shares the same value as me, Then I would not mind running a partnership.

 

[Ernestnari]

Well, your business partner could offer many great solutions to the problems, especially if the partner has more experience. The fact remains that this might be one of the advantages of partnership-based business.

Human beings are generally nice on normal basis. When you throw in money into the picture, you would be shocked how someone would display tendencies you never knew existed in that person. I don't have the head to deal with toxicity. Let me run my business by myself and just manage it anyhow I can.

 

[Emmy]

Sole proprietorship business is quite okay by me because I love to share profit and risk alone. I also love to make decision myself because I believe anybody cannot have the same mentality with me and we have ways of doing things and become successful.

 

[Kane]

If I have funds and also the skills and knowledge to run the business, I will try to do it myself, therefore, my preference would be for a sole proprietorship business. If I do not have enough funds, I would choose partnership

 

[Trey]

The problem with young people is that we love one man businesses. That's why businesses don't grow. How much can one person raise to run a standard business? That's why we keep struggling without small businesses that is not growing fast. What happened to five people pulling funds together to get an ice cream machine and making well defined agreements on profit sharing. One person would save till eternity to buy the same machine .

 

[Shigobad20201]

I am an introvert person and I don't like the problems which partnering in business might caused because it might be the end of the business if care is not taken , so i prefer a sole proprietorship business .

 

[Syldan]

Well sometimes I think it depends on the kind of business you intended to start.

There are some business that may requires sole proprietorship, and some may require partnership so it depends.

personally I will love to start a business alone.

 

[Good-Person]

Sole proprietorship business is quite okay by me because I love to share profit and risk alone. I also love to make decision myself because I believe anybody cannot have the same mentality with me and we have ways of doing things and become successful.

There are many advantages of this kind of business. However, I do not see any problem with partnership based business. When it comes to partnership based business, you do not tend to be alone at all.

 

[Heatman]

Personally, as long as I have the capital to run my business all by myself, sole proprietor it is always going to be my first choice of my business set up because it is going to give me more freedom and control to decide the business structure.

 

[Immilash1]

Exactly
I have even faced the advantage sometimes ago when things did not go fine. I made so many wrong decisions and I ended up shutting down the business because of wrong decisions.

That's really bad, sometimes we do make mistakes, an if care is not taken those kinds of mistakes will affect us badly, but I'm very sure you must have learned from that mistake.

 

[Syldan]

Well both sole proprietorship, and partnership, has alot of advantages and disadvantages soni think thr best option, depends on the kind of business you are doing.

If it's a single business, it's more preferable to run a sole proprietorship business than partnership.

 

[Immilash1]

Well both sole proprietorship, and partnership, has alot of advantages and disadvantages soni think thr best option, depends on the kind of business you are doing.

If it's a single business, it's more preferable to run a sole proprietorship business than partnership.

That's true but it also has its disadvantages, for me I'll like to start up my business by myself, while managing a business just try an do what's the best for you.

 

[Good-Person]

Personally, as long as I have the capital to run my business all by myself, sole proprietor it is always going to be my first choice of my business set up because it is going to give me more freedom and control to decide the business structure.

There are many people who get into partnership-based businesses for many reasons. Partnership-based business is ideal for many people because it may appear more flexible.