Buy custom Purchasing A Small Business
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| Topic: |
Business
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| Number of pages / Number of words: |
11 / 2820 |
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When debating whether or not a partner is needed or wanted, you need to know if you're going to need additional equity as well as sharing the risk of failure. For these reasons, a partnership seems to be a great idea, but there are also many cons that should be recognized. Having too many partners can alter the ease of decision-making, shared liability can cause obvious problems, and sharing profits means less for you...
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Added to this, getting out of a partnership can be very difficult.
Evaluating the current economic factors simply means to know what you are getting into. Be sure to have some knowledge about the business itself and it's market. Know how to make and sell the product efficiently and in a service industry, be sure to know the current and correct way things are done-sometimes they are not one in the same...
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