Partnership business is also a popular form of business in India which covers less area than Proprietorship Business. More than one person i.e minimum two persons with good co-operation and determination can start this type of business. It has some legal formalities. Every person who combinely decided to start the business is called a Partner. All the partners are responsible for Business debt and liabilities. They may give employment to other people or can handle by themselves or by one partner(Working Partner) considering the business volume.
Partners
Managing/Working Partner :
Who manages the day to day affairs of the business and take salary or remuneration from the firm as mentioned in the ‘Partnership Deed’ due to his management or working responsibilities for the firm/business. All the partners may involve in day to day affairs of the business as per decision mentioned in “Partnership Deed”
General Partner or Sleeping Partner :
Who are only the investor and takes only share of profit or loss and are not involved in day to day affairs of the business.
The Partners select the nature of business with their self interest.
This may be broadly divided/ classified into 3 Categories or Nature of Business namely:
The Partners select the nature of business with their self interest.
This may be broadly divided/ classified into 3 Categories or Nature of Business namely:
Nature of Partnership Business
- Manufacturing of goods
- Trading of goods &
- Service business
Manufacturing of Goods (Examples)
- Food products - See more Ideas on Food Products Manufacturing
- House Construction Materials
- Home Appliances
- Auto Parts
- Health Care Products
- Paper and Paper Products
- Education Materials
- Sports Goods and so many other items
Trading of Goods
- Food products
- House Construction Materials
- Home Appliances
- Auto Parts
- Health Care Products
- Paper and Paper Products
- Education Materials
- Sports Goods and so many other items
Service Providing
- Health Care Service
- Beauty treatments
- Legal Consultancy
- Accounting Consultancy
- Architectural Consultancy
- Engineering Consultancy
- Medical Profession
- Software
- Repair and Maintenance Service and so many others type of services
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