When starting a business there are many questions that you have to answer. One of the most important is whether or not you are going to have a partner. There are both pros and cons of working with a partner when starting your business.

Pros

1. Split the start-up expenses. With a partner, you are only going to be responsible for 50 percent of the expenses that you incur along the way. For many people, this is reason enough to find somebody else who is just as passionate as they are.

2. More expertise. It is safe to say that you are good at one set of things, while your partner brings something else to the table. If your skills complement those of your partner, and vice versa, you have a much better chance at achieving long term success.

3. Motivation. Are you the type of person who finds it difficult to stay motivated? If so, a business partner is what you should be looking for. When you begin to slack off or get down on yourself, a partner can pick you up and show you the way.

Cons

1. Must get along with the other person. A partner is somebody you need to trust with every aspect of the business. If you don’t, the relationship is never going to work. Are you confident that you will be able to get along with your partner, day in and day out? While disagreements are going to happen, you need to avoid long term problems that can affect the overall success of the operation.

2. Share the money. Since you and your partner are splitting the expenses, you should also be splitting the profits. For some people this is a major problem. Before you decide against a partnership for this reason, consider this: with your partner you would have never been able to earn as much money. In turn, there would be no profits to split. Don’t get in the habit of thinking that you could earn just as much by working alone.

Whether or not you find a partner for your new business is up to you. Above are some of the pros and cons that you are sure to run into along the way. Once you understand what goes into a partnership, you should have an easier time deciding for or against it. The choice is yours – make it a good one!