10 Advantages of partnership form of business

A partnership is an association of people who agree to run the business together with a view to making profit




ADVANTAGES OF PARTNERSHIP

  • It is easy to set up as compared to a public limited company
  • More capital as it is contributed by many people as compare to a sole trader
  • Business affairs continue even when one is ill
  • Decision making is consultative, as a result, the quality of decisions tends to better than of a sole trader
  • Financial records are not published to the public




  • There is a division of labour
  • Few documents are required to set up as compared to public/private companies