Partnership intro to business.pptx

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1. Partnership business

2. Intro. To business SUBMITTED BY : UMME RUBAB BUKHARI ROLL NO : 1033 SUBMITTED TO : SIR MUHAMMAD AFTAB UNIVERSITY OF OKARA 2

3. PARTNERSHIP

4. WHAT IS PARTNERSHIP A partnership is when two or more people or businesses come together to run a business and make money. In a partnership, everyone works together and shares in the business's success and any problems. This business is bigger than Sole ownership . 4

5. Kinds of Partnership 5 General Partnership: This is when partners share everything equally - the work, the money, and any problems that come up. Limited Partnership (LP): Some partners are in charge and take on all the risk, while others just invest money and stay out of the day-to-day decisions. Limited Liability Partnership (LLP): Partners are protected from being personally responsible for the mistakes of other partners.

6. Kinds of Partnership 6 4. Joint Venture: Partners team up for a specific project or job. They might share profits and risks based on what each partner brings to the table. 5. Partnership at Will: Partners work together without a formal agreement. They share everything equally unless they agree otherwise

7. Advantages of partnership 7 More Capital: Partnerships can pool together more money from multiple partners compared to starting a business alone. This means more funds are available to invest in the business, buy equipment, or expand operations. Combined Skills and Expertise: Each partner brings their unique skills, experiences, and ideas to the business. This diversity can lead to better decision-making, problem-solving, and overall efficiency. Satisfaction of Partners: Partners share in the success and growth of the business, which can be personally fulfilling. Working together towards common goals can enhance motivation and satisfaction.

8. Advantages of partnership 4 . Distribution of Responsibilities: Partners can divide tasks and responsibilities based on individual strengths and interests. This can lead to a more balanced workload and effective management of different aspects of the business. Social Benefits: Partnerships can promote networking and collaboration within the community. Building relationships with customers, suppliers, and other businesses can enhance the partnership's reputation and opportunities. Shared Facilities and Resources: Partnerships can benefit from shared facilities such as office space, equipment, and resources. This can reduce costs and improve efficiency compared to each partner operating independently. 8

9. Disadvantages of partnership Limited Number of Partners: Partnerships are typically limited to a small number of individuals or entities. This can restrict the pool of available talent, resources, and ideas compared to larger corporations or businesses. Limited Abilities: Partnerships may face limitations in terms of capabilities and resources, especially when compared to larger businesses. This can impact the partnership's ability to compete or expand effectively. Lack of Interest or Commitment: If partners have differing levels of commitment or interest in the business, it can lead to conflicts, lack of motivation, or uneven effort among partners. 9

10. Disadvantages of partnership 4. Lack of Decision-Making Efficiency: Partnerships require consensus among partners for major decisions. This can result in slower decision-making processes compared to businesses with a single decision-maker or hierarchical structure. 5. Lack of Public Confidence: Some partnerships may struggle to establish credibility and trust among customers, suppliers, or investors, especially if they are relatively unknown or lack a strong track record. 6. Issues with Transfer of Rights: Partnerships may face challenges when it comes to transferring ownership or rights, particularly if partners wish to exit or new partners want to join. This process can be complex and may require legal documentation and agreement among all partners 10

11. Thank you