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“Alone we can do so little; together we can do so much.” – Helen Keller
NAWRB believes that women entrepreneurs are the best advocates for women and it is our duty to make sure that we reach out and help others achieve their true potential. Be it a life situation or a business opportunity, it is always better when you have a partner to back you up.Reflecting on some thoughts from the latest issue of NAWRB magazine, we would like to emphasize that women entrepreneurs are definitely on the rise, and this is a good time to consider a business opportunity.
The U.S. Small Business Administration (SBA) defines a partnership as “a single business where two or more people share ownership.” A business partnership flourishes when the associated individuals are equally involved in the business’s everyday activities.One can only imagine all the good things that can happen when powerful women decide to sit down together and better the world for themselves and others.
According to the SBA, when more than two people are involved in a partnership, it is essential to make sure that everyone’s voice be heard. We are of the opinion that working together can always be useful, to resolve problems or to make decisions.
The SBA also defines the different types of partnerships that can be formed. General Partnerships are those where “profits, liability and management duties are divided equally among partners.” Limited partnerships (partnerships with limited liability) “allow partners to have limited liability as well as limited input with management decisions.
These limits depend on the extent of each partner’s investment percentage.” Joint Ventures act like the general partnerships but exist “for only a limited period of time or for a single project.”
NAWRB has benefited from partnerships too; be it with the U.S. Small Business Administration (SBA), National Women’s Business Council (NWBC) or Women Impacting Public Policy (WIPP), we have been able to mutually support each other and secure overall growth.
Regardless of whether you help one person or inspire a whole community, two hands are better than one.
For more information on Partnerships, visit https://www.sba.gov/content/partnership