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  • August 21, 2018

Elements of good business partnership - The Kaufman Herald : Opinion

Elements of good business partnership

Posted: Thursday, August 2, 2018 6:00 am

Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of surviving their first five years than sole proprietorships, according to U.S. Small Business Administration data.

Yet sole proprietorships are more common than partnerships, making up more than 70 percent of all businesses. That’s because while good partnerships are strong, they can be hard to make. Here are some elements that good business partnerships require:

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