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Joint Business Or Business Partnership - Business - Nairaland

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Joint Business Or Business Partnership by IAH(f): 8:35pm On Mar 30, 2006
What do you think about joint business (or business partnership)?

We've heard cases of business partners fighting, one partner being wasteful and running down the business, conflicting decisions and management ideas, etc. Do you think the advantages outweigh the disadvantages? Can you do a joint business with a close friend? Are you already doing it? Please tell! Is it advisable or not? What are your reasons?

cool I was reading a page from google about disadvantages of joint business and it said the disadvantage is that profit must be shared. Lol, the person who wrote that is greedy. cheesy
Re: Joint Business Or Business Partnership by Seun(m): 9:13pm On Mar 30, 2006
If I have money, I can be an angel investor, and I'll own 51% of the business so I can safeguard my investment. But to partner with someone? Highly unlikely. I can't do business with an equal partner unless my money is not involved.

I don't trust people very much, so either I own 51% of the company or I provide my expertise instead of my money.
Re: Joint Business Or Business Partnership by Zahymaka(m): 9:54pm On Mar 30, 2006
It's better to own most of it and hire professionals for the part you don't understand. Make it clear you have the right to veto any decisions etc etc and be sure you have a complete understanding of your business.
Re: Joint Business Or Business Partnership by samm(m): 10:45pm On Mar 30, 2006
I can't do business with an equal partner unless my money is not involved.

Are you sure?  I thought you put a lot of value on your time.


@ IAH : A partnership is a very delicate business entity.  For one, regardless of who owns the majority share, all partners answer equally to any liabilities.  Like Zahymaka said, before you enter into a partnership you must be certain that your partner is indispensable to the operation or management of the business else hire a professional(s).

If you are investing in someone elses big Idea, then own a majority share like Seun.

If you are considering a joint business with a friend, then on a per case basis there are better more creative ways of structuring the business to minimize risks and liabilities.
Re: Joint Business Or Business Partnership by diyobdw(f): 7:52am On Mar 31, 2006
For th fact that you will be hop'g your partner's zeal for the Coy's goal wont drain out with time.
angryi say NO to 50-50 partnerships. angry
I know some biz here in lagos that went down be4 they got thier name out. for those same reason IAH mentioned(partners fighting, one partner being wasteful and running down the business, conflicting decisions and management ideas, etc.).
sad shocked angry
Re: Joint Business Or Business Partnership by MP007(m): 11:38am On Jun 24, 2007
joint is better,
Re: Joint Business Or Business Partnership by xjovial(m): 2:21pm On Jun 24, 2007
Risky,risky,risky, Kudos to u all that wants to. cool
Re: Joint Business Or Business Partnership by xjovial(m): 2:29pm On Jun 24, 2007
Once had a friend that told me he wanted to run joint biz but i bluntly refused,,,, its really risky.No matter how well,there comes a time when money sharing and management ,decision making becomes a problem and what happens
Better to have 70percent of shares while others will be given out, friends,family and at least ur sure u still in control.
. wink wink wink wink wink wink wink wink wink

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