Partnership is just like friendship
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners may have limited liability.
The right business partner may also enhance your ability to borrow money to finance the growth of the business. It helps to keep these money issues in mind as part of the criteria in evaluating a potential partner.
Having a business partner can allow you to share the financial burden for expenses and capital expenditures needed to run the business. This could result in more substantial savings than by going it alone.