Solo Business or Partnership Business?

[MastetG]

Types of partnership: Ordinary (General) partnership set up by two or more parties who can be self-employed and/or limitedcompanies and/or limited liability partnerships. An ordinary partnership is not a separate legal entity like a limited companyfor example.

 

[Snobar Bilal]

I prefer solo business because in this only you have to do manage all the terms and rules of the business. Decision making and all the changes you have to manage alone.In partnership business there is a risk of your partner of doing fraud in your business and you may suffer loss.

 

[giddy]

In theory, a partnership is a great way to start in business. In my experience, however, it's not always the best way for the typical entrepreneur to organize a business. ... Making a marriage work involves handling a volatile mix ofpartnership issues: ego, money, stress, monthly overhead and day-to-day expenses.

 

[Nurudeen]

I believe In solo Business more than partnership Business. To some point I your partner is not that committed to the business it can affect the overall growth of the business if all the burden is placed on a single person. Another thing is if you don't take proper documentation and agreement of the business, profit sharing formula can cause problem.

 

[Bilal0087]

I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?

According to my opinion solo business is more secure and profitable then partnership business, because in solo business you can develop your business and you can introduce products of your own interest. you does not need to worry about other people choices.

 

[Ojonuyo]

The both types of business have their role to play. If you have all the resources needed to start up a business and you also have the experience and knowledge then you can start up a solo business. But if reverse is the case, you have limited resources, little experience and skills, then it is best you partners with someone experienced than you to assist you

 

[Life drama]

Starting your own personal buisness gives you a lot of experience,it helps to know where to improve yourself on and where you have lapses.after you must have gain alot of experience then you venture into having a trusted partner to widen your knowledge of buisness.

 

[Zubair]

Solo Business is Always Preferable, Because you are not restricted by anyone. Secondly, no one is trustable in the universe except the Allah Almighty. So, I Would suggest you to have a solo business, it doesn't matter how bigger or smaller it is.

 

[Nma]

I prefer running a solo business to a partnership business.... In a solo business I won't have unnecessary headaches due to someone else's incompetence.... I will be able to take decisions concerning the business at any time and implement it without consulting a second party

 

[Jonaville]

Why is everything on you when it is supposed to be a partnership business? Workload and responsibilities are supposed to be shared. Anyways if you switch to sole ownership, know that you are going to have it tougher. Everything will truly be on you this time, but if you feel it is better, then go for it.

 

[Damismiling]

Asking if I will prefer a solo business to a partnership business, as for me I would prefer a partnership under the following conditions, a legal ground and agreement is established between us before we start the business because two is better than one sometimes

 

[Pirate]

It depends on what you have in mind for business and what the business entails, also the type of person that you're in partnership with.
I can run a solo business efficiently and excel in it as well, and I also have some competent and hard-working friends I can decide to partner with and I'll be sure I won't be the one doing all the job, so for me both are okay.

 

[Koldej]

Solo business is still the best thing to do, because it saves you from unnessary headache and problems, although there are some partnership business doing quiet well but the truth is before you get yourself involve in such you have to trust the person so much, he must be someone of integrity, you need to have know virtually everything about the person

 

[Ehtisham memon]

I think solo Bussiness is better than partnership because Bussiness is up and down possible if your partner is good person not irritated with you that's good for partner ship every person are different think different ideas solo Bussiness I good is your opportunity how the business develop partner ship or solo

 

[Sake]

Depends i guess, if it's like a housing business i can take care of it myself. But if it's a business that requires managing a lot of stuff at the same time. I would rather have someone to share the stress with because I can't do all the decisions myself.

 

[maventiger]

@vest1992 Sole ownership of a business is what most of us crave for but I would prefer Partnership. Having a Partner in business makes decision making easier and sourcing of resources tend to be easily done. Two good heads are better than one which will really spur the business to greatness.

 

[Hassan14]

I am currently in a partnership business and also finding it hard to do things. Like everything is on me. And it makes it harder for me to work on business and also on other details of the business. Which is something I don't want to do for long term. And instead I wish to work on solo business, work on the payouts and build my rest of the empire. So that is my current focus.

What do you think is good - Solo business or Partnership Business?

I think the partnership business will be good because in it you have to reduce the investment and on the other hand you have less responsibilities which makes you feel relaxed and easy and in this you also pay the employees. There are some that reduce the burden on you and you can concentrate on the work in a good way.

 

[btaliat]

Solo business is the best. There is no way the parties in partnership can be active equally, one had to be more active than others quick makes it difficult to share the dividend. So I prefer soon sole proprietorship to partnership.

 

[Oloritoks]

I will prefer the solo businesss because with little capital, you will formulate your own approach on how to manage and run the business to deliver maximum result that meets up your own taste and targets.

 

[Nicklas22]

Going it alone will certainly give you full autonomy and control of your business, but a partner may allow you to expand into a more dynamic approach. There are benefits to both sides—here are some things to consider when starting up: Partners with different skill sets will also help to spread out the workload.