Partnerships

in it together

So you are bound together in the world of business in a relationship that seems to go beyond marriage, family or friendship. Does the phrase ‘In Unity Strength’ work for you? It should; but life doesn’t always turn out that way and aside from all the other business issues, partnerships have their own problems;

Relationships

If you are planning on starting a business together have you talked outside the partnership either as individuals or together ?
Many partnerships fail through poor communication between the partners, there are ways to correct this.
Information can be hoarded by partners for no other reason than that they have no structure for revealing it to others.
Would a limited partnership or shareholder relationship in a limited company be better for you?

Administration

Partners are taxed on their share of partnership profits from a business
Partners should have both their contributions to and their drawings from the business recognised

If you think that your partnership could do with some help then please talk to us