Partnerships

It is a working agreement between two or more persons. Its aim is to make a profit. Profits are shared between partners. Each are liable for debts.


Advantages & Disadvantages of Partnerships

Advantages

  • Easy to Start
  • Greater resources available 
  • Continunity is safeguarded in relation to illness
  • Limited outside regulation

Disadvantages

  • Personally liable for Debts
  • Partners may have differences

 

 

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