Sole proprietorship or partnership?

[Holluwaphemmy]

After so much research, I have got to understand that a sole proprietorship is a better business idea than a partnership because it offers less risk and is very easy to set up. Do you think I'm right about this or u feel my conclusion is the wrong one?

 

[Grant]

Sole proprietorship is essentially a one person ran business, while partnership ones tend to revolve around at least two partners or more. It really depends on what you would rather do. Some people want to run a business on their own, and therefore start it on their own, but partnerships allow you to have some extra support.

 

[Trey]

I personally prefer a sole proprietorship. Partnership businesses are dicey because you might not have the same mindset about business as your business partner and this might lead to clashes. You might believe in ploughing back profits and he doesn't.

Crisis is inevitable. So for me, it is better I run my businesses by myself and be sure I run it the way I want without having to be dragging someone along.

 

[Kane]

If I have a lot of money, I would be more than happy to start along, however, if I am lacking business funds, I would consider a partnership business. However, I would have a written contract to avoid confusion.

 

[Robust]

Well between a sole proprietorship and partnership business, I highly prefer to go for partnership business than a sole proprietorship business because of the risk involve.

 

[Mayorla]

Sole proprietorship involves one person running the business while Partnership involves 2 or more people. If you find a partner who share the same vision as you, then you are good to go. For a sole proprietorship you might not have enough money to start it.

 

[Heatman]

After so much research, I have got to understand that a sole proprietorship is a better business idea than a partnership because it offers less risk and is very easy to set up. Do you think I'm right about this or u feel my conclusion is the wrong one?

If I actually have enough capital to run and start my own business, I am definitely going to prefer being a sole proprietor than going into a business partnership with anyone because you hardly find people that are trustworthy to go into partnership today.

 

[Planbizzle]

After so much research, I have got to understand that a sole proprietorship is a better business idea than a partnership because it offers less risk and is very easy to set up. Do you think I'm right about this or u feel my conclusion is the wrong one?

Sole proprietorships are typically easier and less expensive to establish and manage than partnerships, and the owner has entire authority over the company. Partnerships, on the other hand, can profit from more resources and knowledge, as well as generate more financing than a single proprietorship.

 

[Holluwaphemmy]

If I actually have enough capital to run and start my own business, I am definitely going to prefer being a sole proprietor than going into a business partnership with anyone because you hardly find people that are trustworthy to go into a partnership today.

Exactly, the partnership is a good business strategy if the partner can trust themselves. The major concern is how to find a trustworthy partner that will be on the same page with you.

 

[Jonaville1]

After so much research, I have got to understand that a sole proprietorship is a better business idea than a partnership because it offers less risk and is very easy to set up. Do you think I'm right about this or u feel my conclusion is the wrong one?

I love sole proprietorship. I will be able to own it all to myself and I am responsible for any kind of action or decision that I make. The only time I can partner is when I don't have enough money to start the business.

 

[Good-Person]

If I actually have enough capital to run and start my own business, I am definitely going to prefer being a sole proprietor than going into a business partnership with anyone because you hardly find people that are trustworthy to go into partnership today.

I prefer to be a sole proprietor because I love the independence. When you enter into a partnership agreement, you must also abide by certain restrictions placed by your partner.

 

[Emmy]

Sole proprietorship is a business that involves only one person who will be responsible for the risk and solely raise funds for the business. It is a one-man business that he's entitled to all the profit in the business.

 

[Syldan]

Well it depends on the kind of business you invested, but personally I will prefer sole proprietorship if I may understand, a kind of business that is run by a single individual regardless of it nature or how big its.

 

[Good-Person]

Well it depends on the kind of business you invested, but personally I will prefer sole proprietorship if I may understand, a kind of business that is run by a single individual regardless of it nature or how big its.

I also have no problem with partnership-based business. The fact remains that there are many people who have learned and skilful partners who could help the business.

 

[Heatman]

I prefer to be a sole proprietor because I love the independence. When you enter into a partnership agreement, you must also abide by certain restrictions placed by your partner.

This is actually very correct because that is how business partnership work since the decision-making of the business is not carried out by one person but those partners that agree to come together to make the business work.

 

[Syldan]

Personally I will prefer sole proprietorship for the kind of business am currently into.

Sole proprietorship business, gives you a better chance to make personal decisions that will promote your growth than asking for someone opinions.

 

[Laurentta]

I believe you are right when you said sole proprietorship is easier to set up than a partnership. If i were to choose between sole proprietorship and partnership, i would choose sole proprietorship.

 

[Ernestnari]

The advantage of sole proprietorship is that you have complete autonomy over your business. The advantage of partnership is that all burdens of the business are spread making it easy for one person.

 

[Heatman]

I believe you are right when you said sole proprietorship is easier to set up than a partnership. If i were to choose between sole proprietorship and partnership, i would choose sole proprietorship.

The nature of the business that you want to do is what is going to determine if it is going to be more suited for you to run it under the partnership or as a sole proprietor. Personally I am more comfortable with running my business as a sole proprietor.

 

[Laurentta]

The nature of the business that you want to do is what is going to determine if it is going to be more suited for you to run it under the partnership or as a sole proprietor. Personally I am more comfortable with running my business as a sole proprietor.

I don't own a business of my own yet, but i also believe it's better and much more comfortable to run a business as a sole proprietor. I doubt i would go into partnership when i decide to own a business.