Advantages Or Strengths Of Partnership Business

Advantages Or Strengths:-

Every business has some advantages and disadvantages. Here some advantages of partnership business are presented below:-

1. Like sole proprietorship, it is easy and economical to establish.
2. It can raise more funds than sole proprietorship.
3. It has more power to take loan since it has many partners.
4. More talent and managerial skill is available.
5. The good employees can be retained.
6. It is free of special regulation of the government.
7. The tax is levied on the income as the personal income of the partners.
   
8. Each partner may be specialized in the particular work of the business, which increases efficiency.
9. If partners are few, the decision making is prompt and flexible.