importance of partnership?
Answers
Answer:
Partnerships increase your lease of knowledge, expertise, and resources available to make better products and reach a greater audience. All of these put together along with 360-degree feedback can skyrocket your business to great heights. The right business partnership will enhance the ethos of your firm.
A partnership could mean your business will have access to new products, reach a new market, block a competitor (through an exclusive contract) or increase customer loyalty. ... Some prefer to use partnerships to strengthen weak aspects of their business.
Explanation:
In a partnership, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership's income or loss on their personal tax returns.