Advantages of a business

Advantages of business to business - [local economy] | the advantages of businesses in the local economy [different types] | the advantages and disadvantages of the different types of business entities [advantages] | advantages & disadvantages of starting a business from scratch also viewed [business cooperatives] | advantages & disadvantages of business cooperatives [different business structures] | advantages and disadvantages of different business structures [tax advantages] | tax advantages and disadvantages when owning your own business [corporate form] | advantages and disadvantages of the corporate form of business [small local businesses] | the advantages of small local businesses [business activity] | the advantages & disadvantages of a business using the internet for business activity [business disadvantages] | business disadvantages in a restaurant. Of a partnership include that:the liability of the partners for the debts of the business is unlimitedeach partner is ‘jointly and severally' liable for the partnership's debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debtsthere is a risk of disagreements and friction among partners and managementeach partner is an agent of the partnership and is liable for actions by other partnersif partners join or leave, you will probably have to value all the partnership assets and this can be costly. Of a partnership include that:two heads (or more) are better than oneyour business is easy to establish and start-up costs are lowmore capital is available for the businessyou'll have greater borrowing capacityhigh-calibre employees can be made partnersthere is opportunity for income splitting, an advantage of particular importance due to resultant tax savingspartners' business affairs are privatethere is limited external regulationit's easy to change your legal structure later if circumstances change. Comstock images/comstock/getty images related articles 1 [advantages] | advantages & disadvantages of owning your own company 2 [disadvantages] | the disadvantages of small-scaled businesses 3 [business rules] | advantages & disadvantages of business rules 4 [job enrichment] | the advantages & disadvantages of job enrichment small businesses are the backbone of the united states; as of 2008, there were nearly 30 million small businesses in the country, according to the u.