958890
Description
Mind Map by Alex Wykes, updated more than 1 year ago
|
Created by Alex Wykes
over 10 years ago
|
|
Partnerships
- Owned and controlled by
more than one person
- Examples: Dentists,
Doctors, Solicitors, Estate
Agents, Accountants, Vets
- Advantages
- More Partners = More Capital
- More Partners = More
Skills /Experience
- Cover for illness/holidays
- Sleeping Partners bring
extra skills and capital
- Financial Information is Private
- Easy + Cheap to set-up
- Better chance of gaining
'economies of scale'
- More Partners = More Capital
- Disadvantages
- Profit has to be shared
- Unlimited Liability
- Less Control for
partners
- Slower Decision-Making
- Personal Disagreements
could end partnership
- Profit has to be shared
Want to create your own Mind Maps for free with GoConqr? Learn more.