Starting a Business With Partners

Going into business for yourself? Consider taking on a business partner. Forming a sole proprietorship can be challenging. A partner can help you make critical business decisions and help you avoid mistakes.

Statistically speaking, businesses started by partners do better than businesses started by individuals. Choosing the right business partner, however, can be quite a challenge.

Studies show that startups with multiple partners do better than startups with just one founder. As you start your new venture, who will be on your core team?

All too often, business people enter into partnerships too soon based on the excitement surrounding a new idea or business venture. It is too late once they have found that their opinions differ, personalities clash, and they wish they have never partnered in the first place. This article looks at the possibilities that exist with profit sharing arrangements versus partnerships.

What are the important things to consider when picking business partners? It is no surprise that the quality of your company will be directly linked with the quality of its people. To take it a step further, the quality of the founding partners will determine whether or not the business will stand the test of time.

What are the pros and cons of a partnership and sole-proprietorship? This article should help give you some answers.