Starting Up A Business Partnership

Deciding to start up a business partnership is in fact an investment that will not only keep you occupied but will also bring in the profit with the limited investment that you have in hand. While deciding on doing so with a friend or family member, you will soon move onto discussing where exactly your interest lies for both you and your partner and taking it from there.
Although a business, when manages well will only grow to make a name for itself and have a growth in profit, you, as one of the partners will have to make sure of a number of areas along with the other partner. And so, here are four important areas that you can look at.
Look around
When saying look around, I generally mean that you will need to scour the external environment and look for an area of need which you can base your business on. This simply means that you will have to make sure that the business that you are planning to open up is one that shows a need in the current market. By making sue of this current need, you will have a better idea of whether or not the business you are looking to invest in will have a chance to survive.
Deicide on your investment
The next thing that you will need to do is decide on the investment that you are planning to make. Is it going to be a 50-50 partnership or are you and your partner looking to make it an uneven partnership? These specifics will have to be mentioned to the lawyers that are going to be in charge of handling the paperwork related to the business.
Have someone draw up the paperwork
As mentioned above, you and your partner will have to speak to the Dubai lawyers involved in drawing up the paperwork. They will simply need to take note of the initial investment percentage done by each of the partners and come up with a fair profit sharing ratio. By doing this, you and your partner will have a lot less issues when it comes to this particular area in the future.
Look for a location to purchase or Rent out
Once all the paperwork is done, you as well as your partner can start looking for a building space to rent out or purchase for the use of the business.
By going through these channels, you have a much bigger chance of making sure that the business succeeds from the inception.