IGCSE, A Level Business Student Forum

Ibrahim Aamir wrote: ↑Fri Nov 03, 2023 7:39 pm [KN] risk taking
[AN] as their are more then one person, risk would be distributed between them
[AN+] this would reduce the financial burden on one partner

[KN] New ideas
[AN] there would be new ideas in business as there would be more then one person working on the business
[AN+] this would result in possible success for the business

both analysis points show little to no direction

[Kn]Access to knowledge, skills, experience and contacts
[An]Each partner will bring their own knowledge, skills, experience and contacts to the business, [an+]giving it a better chance of success than any of the partners trading individually.

[Kn]Sharing the burden
[An]Compared to operating on your own as a sole trader, by working in a business partnership you can benefit from companionship and mutual support. Starting and managing a business alone can feel stressful and daunting

[KN]Workload would be shared
[AN]With more partners tasks will be shared hence burden on some owners may fall
[AN] which can increase their productivity

[KN]Innovation
[AN]More partners may suggests new and unique ideas which can help in creating a USP
[AN]Hence,this may help in attracting more potential customers

[kn] splitting expenses
[an]  partnership's ability to share capital expenses allows both participants to keep more of their own assets
[an+] would not have to take loans and can increase investments

[kn] partnerships can give fresh skills and ideas
[an] partners may have certain abilities and ideas that the firm can use to increase revenues
[an+] can stand out from other businesses

KN: Shared Financial Burden
AN: Partnerships allow for the pooling of financial resources and capital
AN+: easing the burden on individual partners
KN: Shared Responsibility
AN: Partnerships distribute the workload and responsibilities among partners
AN+: allowing for a more efficient operation of the business

(Kn) work load distributed (an) when there are more than one owner it allows both of them to share the load of work (an+) hence, it leads to efficiency and productivity.

(Kn) More recourses available (an) When there is more then one owner it becomes easier to get loans and more finance available for the business (an+) this allowed investment in the business and expansion.

[KN] more ideas
[AN] This will help the business be innovative
[AN+] thus have an edge over the competitors and the business will gain more market share

[KN] more financial resources available eg startup capital
[AN] thus reducing the burden of collecting the startup capital
[AN+] hence allowing the owner on other aspects of the business

(KN) more capital could be invested into the business
(AN) due to this the business would be able develop or grow into the Market more effectively and expand,
(AN+) thus due to the business expanding, it could lead to potential advantages for it in the long run, such as a larger target consumers, and the business may also become famous if successful.

(KN) responsibilities are shared
(AN) thus due to this the partners don't have to worry about burdening themselves with all the work like sole traders and instead share the work amongst themselves,
(AN+) thus due to this the business could be handled more efficient and effectively and also the partners don't have to stress a lot wether to take a day off or not as the other partners are still there to manage the business and share the responsibilities.