Beware of partnerships! Some partnerships can be an excellent vehicle for a business and its owners to achieve their goals. However, sometimes they are inappropriate and can be detrimental to the success of the business and its owners. It is essential to those people considering partnerships that the initial optimism and positive feelings they have towards each other do not blind them to the need for rational thought and consideration of the future ramifications of a decision to enter into a partnership. This paper will set out: 1. Why the reasons many people become partners in business may be invalid. 2. That if, after due consideration, a partnership is still appropriate, why and how an exit strategy should be developed before entering into that partnership.... [Show full abstract]
Fields of Research150314 Small Business Management
Copyright © The Author.