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  • Karen Immanuel replied to the topic Partnership characteristics in the forum Business 101 6 years, 7 months ago

    If I was an entrepreneur, I would definitely do a partnership. Choosing the right person/persons is very very important. I prefer partnership over sole proprietorship mainly because it’s better to have more people to discuss, decide, and execute a plan rather than one person. The difference in opinion and methods would be helpful. People of different experience and backgrounds would also be beneficial when the companies goes through situations and that one may know about while the other doesn’t. Plus, the more people, the more money that can be invested. Sharing costs and expenses between the parters reduces the burden drastically when compared to sole proprietorship. There are a lot of benefits to partnership, but the main and crucial area of failure and risk is choosing the right partner.