Importance of a partnership agreement in a small business

#smallbusiness101 The first step in forming business partnerships should be to put what each partner’s roles and responsibilities are going to be, each partner’s contribution, equity/profit share and most importantly shared VALUES. What usually happens: emotions get ahead of us, we have a business idea, we partner with like minded individuals (at least that’s what we think), we like each other and everything is going well. Until that contract you are tendering/RFPing comes to fruition – all over a suddenly there is conflict, disagreements, money squabbles, different thinking. No one knows what their portion is. Differing point of views. Leaves many people despondent 😭to ever partner again. There’s nothing wrong with partnerships, what’s wrong is the inherent need to TRUST each other and forget business principles. #businessprinciples#smallbusinesstips #entrepreneurship  #startups#africabusiness  #southafricabusiness#yzeupbusiness  #yzeupafrica –

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