This week, we are going to look at a topic that is very contentious among most people in business: Partnership. We shall look at Partnership as a way of starting a business or raising finance for one.
Most time people have great business ideas, but they don’t have the necessary capital to transform these ideas into a business venture. And because of this, the person who is so exuberant and passionate about the idea he wants to bring to reality is always quick to jump into partnership with anyone around who offers financial help with the hope that they will work things out later.
Going by records, partnership is one dangerous form of business to just jump into. There are many sad stories that people who have blindly gone into it can tell, and the causes of most of these tales of woes are issues that can be easily avoided.
The first question to ask is ‘is it even scriptural to go into partnership?’ People are usually on the quick to say that the Bible says ‘we should not be unequally yoked with unbelievers’. But note that the Bible does not say we should not be yoked at all with people.
This means that when you decide that you are entering a business partnership with someone, the kind of considerations you take into cognizance before going into a marriage partnership are the same considerations you will need to note before going into the partnership. This is because, in a legal sense, the two of you in the partnership have become one with equal responsibility for your individual actions. This means that if your partner takes an action in the name of the partnership, he is acting on your behalf as well.