Legal status

What are the advantages of operating as a partnership?

There are a number of advantages in operating as a partnership, including:

• The structure of a partnership can be flexible, according to the deed of partnership.
• There is less paperwork to deal with regarding legislation and tax than for a limited company.
• Management responsibilities, risks and losses are shared.
• Partners can bring a variety of different skills and experience to the business.
• As more people are involved in the business, more capital can be raised among them.