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Ramesh
What is better option- partenership bussiness or a propritership bussinees?
If two or three brothers are in the same Business will it be better to be partners in the same Business or a proprietorship and employees or different proprietor firms?
Just a short & simple answer to your question.
Either it is same business or different, don't go for partnership business.
CHETAN
I think if your family is in a partnership business then it's ok for you to get into that as it will help you a lot to build yourself. In case fo proprietory busines, you will not get the disadvantages which are there in partnership like something called"act of a firm" in which even though any other partner commits some fraud you all will have to bear the loss and thereafter you will be able to sue the partner for the recovery of the lost money that also through court. in case of proprietory you will not get finance in as quick as you get it in partnership, also you will be the one who will be resposible in toto.
But as you said it's your family business i see no harm in joining in. You better be with the people you know rather than with those you don' know.
Ask you family what is better for you they will help you in that as they know it better than what i do and what you do!!
Best of Luck. Hope you achieve success, irrespective of what you choose.
satyapriya007
i think you dont do partenership bussiness & a propritership bussinees is better for you......
nikki
if the situation is demanding u can better go 4 a sole prop. business.....
pablo q
the way i look at it in the begin go solo... make it work alone no partner. you can control everything....... when its time to expand,make a move find a partner, now you can build together and watch him, compare him to your early mistakes and see if he chose right ? you dont need some one who knows less than you and works less than you look for production and good jugement
dnkashyap
if u believe in family values stay in ur family bussinees. incase u feel unsecure for any reason and have donfidance inurself atart ur own but the same to have domition with ur brothers
hhope4lyf
I've been in both myself. Tax laws very from state to state and that may determine your answer based on the business objectives you and your brothers have. Are you inc. or LLC? I don't know your business or where you conduct it. I have always found that my account has always answered this type of question for me as as many others. I would talk to your accountant and find a best direction.
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