hello guys,
i need some contributions please.

i want to start a business in partnership with a friend and former colleague, we have a target market and would create more as we establish.
what are the necessary thing to do in partnership?
i want to register a Business name in CAC and den the share allotment but considering difference in our income level, i would contribute more dan him in terms of de finance.

my partner stays in de town but i am only available 2weeks in a month cos of my present job.

now i need some contributions on how to set up a partnership business.

-what do need to know,
-how do i go abt it.
-precautions
-possible issues and ways to curb dem to de barest minimum.

thanks

You must have a written agreement.Otherwise,acquaint yourself with the Partnership Act of 1890,which states that profit and loss is to be shared equally,interest on drawings,5 % amongst others.

Businesstools: You must have a written agreement.Otherwise,acquaint yourself with the Partnership Act of 1890,which states that profit and loss is to be shared equally,interest on drawings,5 % amongst others.

i dnt get the bolded , please throw more light

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thanks, i totally appreciate.

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