Register as a teacher
Untitled Storyboard
Storyboard Text
- Slide: 1
- In a partnership, we can share responsibility, which encompases legal liability, financial obligations, decision-making, and profit/loss sharing
- Which means each partner is personally liable for the business's debts and obligations, and they also share in the profits or losses of the business
- We also have potential tax advantages, which means we can avoid double taxation, have pass-through of deductions and credits, and have capital gains tax advantages.
- And we can have access to diverse skills capital like, covering startup costs, purchasing inventory, and we both have skills in tech and marketing.
- Slide: 2
- BUT, we can also have unlimited liability, which means we are personally responsible for the business's debts and obligations.
- we will also have limited growth potential, which means we may not grow as big as other businesses because we are such a small group.
- And, we can have difficulty raising the companies capital, which means due to our unlimited liability, it will be harder to keep a lot of money.
Over 40 Million Storyboards Created
No Downloads, No Credit Card, and No Login Needed to Try!
