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2024年5月25日发(作者：晋江小说免费看的软件)
In creating the type of business form known as a Partnership, two or more
people share ownership of a single business. The shared ownership concept that
characterizes the Business Partnerships affords distinct advantages and
disadvantages.
There are five advantages of partnership:
1. Partnerships are relatively easy to establish. Once the deal has been made
by the copartners, which mean the partnership has been formed.
2. With two or more owners, the abilities to raise funds may be in creased,
both because two or more partners may be able to contribute more funds and
because their borrowing capacity may be greater. And at the same time, Debt vs.
Equity may be increased.
3. Partners have complimentary skills, which can be very cost-effective as
people specialize and become more efficient in certain aspects of their creative
business. There is a wider pool of knowledge, skills and contacts. All their wills and
talents together will spark the passion to success. This is the main advantage of
partnership which lies in the working relationship between partners.
4. The profits from the business flow directly through to the partners’
personal tax return.
5. Prospective employees may be attracted to the business if given the
incentive to become a partner.
On the contrary, there are disadvantages of the partnership.
1. Business partners are jointly and individually liable for the actions of the
other partners. This can be a serious disadvantage.
2. Partnerships can be the messiest form of business ownership. Profits must
be shared with others, which mean so are the risks. You have to decide how you
value each other’s time and skills. And all these may cause conflicts among
partners, which can put the business in serious danger.
3. Since decisions are shared, disagreements can occur. And the management
problems may arise any time. A partnership is for the long term, and expectations
and situations can change, which can lead to dramatic and traumatic split ups.
4. The partnership may have a limited life; it may end upon the withdrawal or
death of a partner.
5. A major disadvantage of a partnership is unlimited liability. General partners
are liable without limit for all debts contracted and errors made by the partnership.
This makes partnerships too risky for most situations.
In brief, the advantages and disadvantages exist in the partnership, which
means opportunities and risks coexist in the modern world.
• The partnership may have a limited life; it may end upon the withdrawal or
death of a partner.
• A partnership usually has limitations that keep it from becoming a large
business.
• You have to consult your partner and negotiate more as you cannot make
decisions by yourself. You therefore need to be more flexible.
• A major disadvantage of a partnership is unlimited liability. General partners
are liable without limit for all debts contracted and errors made by the partnership.
For example, if you own only 1 percent of the partnership and the business fails,
you will be called upon to pay 1 percent of the bills and the other partners will be
assessed their 99 percent. However, if your partners cannot pay, you may be called
upon to pay all the debts even if you must sell off all your possessions to do so.
This makes partnerships too risky for most situations. The answer would be a
different business structure.
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