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Starting a Small Business 

Q  I am considering having a business partner. Is that a good idea?

A First ask your self why you want a partner? Does that partner have the money to finance the business start-up? Does the partner's skills complement yours? Do you and your partner have the same vision for this business? It is best to have written partnership agreement. Your SBDC can help you develop one. (To locate your nearest SBDC click here) Things to consider are:

  • Roles and responsibilities. Who will do what? How will you make decisions? How will you resolve conflicts?
  • How a break-up of the partnership will be handled. You may be in agreement now, but remember people and circumstances change.

 


 

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Page last updated: October 11 2013

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