Partnership is a relationship among two parties who with their mutual consent agreed on the sharing of Profit and Loss of the business which is carried out either by the active partner who accepts the responsibility and let other to be sleeping partner or the both kind of partner.
The main purpose of the partnership is avail more capital a single person who is even having a business which is flushing in the market but even though it needs money to grow the business for which most of the business persons look for the partnership so the business can be extended and with the partnership people have to share the profit but also shares the risk level as well.
Unfortunately if any accident occurs which can harm your business and loss of money is certain in the partnership the risk of loss is shared for a single person it is difficult to bear the loss but if there are multiple person the burden of loss can be divided and easily taken.
Two Minds are better than One mind is famous saying with the views of such saying in partnership there can be more capability in the business we are humans and we are set to work for the eight hours only but when you are in partnership the time can be shared, your business can get profit with both open hands.
In partnership there is a division of work if one partner is involved in the cash dealing the other can do the job of supervision for a restaurant in this case the availability of owner of the business at business spot is certain all the time.
Each individual has some specialty the Almighty has gifted everybody a feature in which it has an edge when you are making partnership if a person is specialized in management the other can be in marketing or communication so it will help business a lot to grow.
When you do partnership the fresh ideas from different peoples can be presented multiple and different ideas are shared by the persons to run business.
Sometimes a people is gifted with bundle of resources from its ancestors such as land or capital, it is very difficult for a single person to utilize those resources solely partnership will allow you to utilize all the resources available to you and with such actions there will be technological development by bringing better to better ideas with two or multiple minds.