Chapter 2: Creating a Valuable Partnership
Tip: “Great things in business are never done by one person they are done by a team of people.” (Steve Jobs, Co-founder, Chairman and CEO Apple Inc.)
Many small businesses such as professional practitioners, retail, service providers are organised as partnerships.
Partnerships are very essential in the business world and are in fact considered as the second stage in the evolution of the business first being sole proprietorship.
A partnership is an agreement between two or more people who have decided to enter into business with the intention of earning profits.
Partnerships may be established formally by means of a partnership deed or agreement. The partnership agreement is a very important guide for partnerships to exist in harmony.