Partnership

Partners usually invest cash in a business and that means that there's more capital on hand.
Banks or suppliers will be more prepared to extend credit because more than one person is assuming responsibility for the debt.
Partners can bring complementary talents to a business (for example one has excellent ideas and other is a very good salesperson).
Partners share the liabilities of a business.
Possible tax advantages.

Possible difficulty in finding a suitable partner - one who supports your personality and skills.
Different perspectives may result in disagreements and the partnership may become hard to manage.
Each general partner has a say in the way the business is run.
Partners share profits, too.
General partners may have to sell their personal assets to meet debts.
There's nothing to stop partners from taking your idea and going into business for themselves.
If you want to sell, you must have the approval of the other partners or they must buy you out themselves. It can be long process and painful.
Partnership dissolve if any partner doesn't live up to the partnership agreement (illness, insolvency, death, incompetence etc. ). Insurance can cover some of these eventualities and allow the business to keep running.

Buying An Established Businesss
Buying A Franchise
Market Research
Your Product Or Service
Your Customers
Your Competition
Getting A Financial Picture
Business Guide

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