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Funding Your Business The Right Way – Partnerships
By Se Lorm (CEO, Seloart)
Today let’s look at business partnerships.
Building a healthy business partnership is very important for the growth of every business.
A partnership is an arrangement in which two or more individuals share the profits and liabilities of a business venture. Various arrangements are possible: all partners may share liabilities and profits equally or some partners may have limited liability ( less of the risks).
This is another easy way of raising capital for your business. It is quite unfortunate that partnerships are not very common in our part of the world mostly because of greed.
A partnership will make your business life easier and will enable you to do more.
Below are four key questions you should always ask when you want to consider anyone as a partner in your business;
1. Is the person trust worthy?
2. Is the person financially sound?
3. Is the person patient?
4. What other things does the person bring on board?
Your financial muscle will determine your share in the business. Values like trust and patience to stand the test of time cannot be overemphasized.