Perfect partnerships

By Drum Digital
11 November 2013

Good partnerships are good for business

Starting your business with one or more partners can be very beneficial. You would have more skills, more financial back up, and the risks would be shared. But it is important to plan your partnerships as much you do the plan for your business. Do a background check on your potential partners, make sure they’re not in any bad debt and are not involved in anything illegal. Make sure you get ownership contracts drawn up right from the beginning. These should specific what each of the partners contributed and what percentage of the business each partner owns. Be smart, if you’re the biggest contributor, make sure you own more than 50%, that way you always have the final say.

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