Business Change

[Candybeatdiscos]

I am considering to get a partner in to help me out with the business, someone who can DJ, has a bit of financial backing and who can basically help with the business, has anyone else ever went down this route and if so what things do you think i should look out for?

[A1DL]

I am considering to get a partner in to help me out with the business, someone who can DJ, has a bit of financial backing and who can basically help with the business, has anyone else ever went down this route and if so what things do you think i should look out for?

It is important you both enter into a formal partnership agreement, in the event of a split in the future this should prevent dispute over who owns how much share in the business.

Additionally, remember that if entering into a partnership, you will share liability, therefore be particularly careful if your means are significantly greater than that of your business partner. There's a lot of truth in the old sayings: "He who has the most, has the most to lose", and "if you ain't got nowt, you got nowt to lose"

HTH

tony:beer1:

[funkymike]

It is important you both enter into a formal partnership agreement, in the event of a split in the future this should prevent dispute over who owns how much share in the business.

Additionally, remember that if entering into a partnership, you will share liability, therefore be particularly careful if your means are significantly greater than that of your business partner. There's a lot of truth in the old sayings: "He who has the most, has the most to lose", and "if you ain't got nowt, you got nowt to lose"

HTH

tony:beer1:

Yep totally agree

been there seen it and still got the court papers to prove it.

Dont bother doing it

I like to be postive

Mike

[theoloyla]

No. Like A1 says do it - but carefully and properly. It may seem over the top but get it down on paper. I was in partnership for a while and it worked very well. Each one of us knew where we stood and what we owned and when after a few years we went our separate ways the split was easy and amicable.

[Silver]

I've been in a partnership in a previous life and it didn't work, why...because we wanted to go at different speeds.

I wanted to put in 12 plus hours a day, he wanted to put in 7-8 - PROBLEM!

So we parted company, partnerships for me are harder work than marriages.