Advantages of Partnership Firm

Shared Decision Making

Partnership firms allow for multiple partners to collaborate and make decisions together

Ease of Formation

Partnership firms are relatively easy to form as they do not require a lot of legal formalities or paperwork

Shared Financial Burden

In a partnership firm, financial burden is shared among partners, making it easier to raise capital 

Flexible Management Structure

Partnership firms have a flexible management structure, allowing partners to define their roles 

Tax Benefits

Partnership firms enjoy certain tax benefits such as pass-through taxation