I haven't really been into partnership business before but of course I have studied a lot of things about it. It has some advantages which will probably be the best for business if only there's mutual understanding between the parties involved.
Share Your Partnership Experience
- Thread starter Adventurer
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I am into a partnership business with my wife and we are into catering business and also into selling baking ingredients and also baking , i can say its very good and accommodating to be in a business someone you trust.
Nice one, trust is always the most important thing in any business, it may even be difficult if the person you were engaging in the business with was not trusted enough, it is really necessary to engage in a business with a trusted person, maybe the best way to engage in a partnership business is to do it with a family member.
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trust is the keyword in a partnership business, because with trust , the business will be able to go a very long way to success, it's always better to engage in a business with a family member who knows the implication of ruining the business will be on him/her.
But sometimes if you are the owner of a business and you are employing a family member ,if they misbehave it might be very difficult for you to sack them because you may feel guilty since they are your family member.
I have been into the same issue sometimes ago where I employed my wife sister to be working for me and i takes over after coming back from work, I noticed that she has been taking money and also eating from the shop , it turns to a family issue after firing her .
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Hahahahhahahahahahhahahahahah , please o.. I can't stop laughing.. well some family members are really funny Sha, but you get mind o , how did you even start the firing process ? Lol
In a business partnership, there are many advantages. But Nowadays Disadvantages are more than advantages. One of the biggest reasons is trust. Life become a race so it is difficult to trust someone and without trust partnership is nothing.
Yeah, life is truly a race. When two people work together tense days, many tend to compete instead of working together. This brings about so much evil than good. That is what causes trust to be lost hence working together becomes so hard.
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I've never engage in a partnership business before so I don't really know the challenges most people are going through except for the fact that some people are not always trusted.. I've never experienced such. Even if I have to go into a partnership business in the future it will always be with trusted people.
If you have the business plan and the resources in which you can use for the business , its adviseable to start a sole proprietorship business instead of a joint business, most people go into patnership business because they don't have everything.
Human beings have become so weird that you can't really trust them for anything especially with a new business and money is concerned which is why I find it very difficult to do business with someone on partnership basis.
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One of the pleasures of starting your own business is the ability to choose the people you’re going to work with. However, if you’re dreaming of starting a business with a close friend, family member or former coworker as your business partner, don’t assume all will be smooth sailing just because you know each other. Just like marriages, business partnerships often run into rough waters
If I have my way I will not easily jump into any end of partnership because I don't really have the energy to deal with the challenges that comes with running a business in a partnership standard.
Having your own personal business is very goods , its gives you the privilege of becoming a sole proprietorship because most times , partnership in business brings about disagreement most of the time.
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Even though I don't have any business I am running at the moment, but personally I don't see anything wrong with partnership even though there may be trust issues. But we cannot because of this not partner when necessary because we have so many successful partnership businesses. It is just my opinion though. Thanks for sharing.
A friend of mine is actually running a fish pond and he is doing it in a way that people invest in the fish pond in more of a partnership thing that they get a certain percentage of interest at the end of every four months and it has been working for him ever since.
A lot of people have been betrayed all in the name of partnership with makes it very difficult for people to trust one another in any kind of business dealing in my country today.
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Nobody can go into a partnership business with anyone or a joint business when they don't have something to offer , at least the two parties must have something to offer and agree on before a joint business will be start, I wouldn't like to do it with people that don't have a single penny
I have bad partnership experience. My partner planned to take over my business without my Consent. That's the bad side of entering into partnership business. The whole thing now resulted in a serious fight.
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