Lending Tree Taps Local SCORE Mentor for Perspective on Establishing Legal Partnerships
Have you ever wondered if you should take on a partner for your business? Or are you and a friend or colleague considering going into business together and need to understand the proper legal and tax structure for your business as co-owners?
The Lending Tree has you covered. In a recent in-depth and highly informative article, the lending source provided all of the background on potential legal arrangements between business partners: what they are, how they work, and how to decide if partnership is right for you and your small business.
Certified Volunteer Mentors in the Southeast Michigan chapter of SCORE get questions like this all the time. In fact, we often conduct free webinars and workshops on this very topic. It should come as no surprise, then, that when Lending Tree went looking for expertise and guidance, they looked no further than SCORE, leaning on Certified Volunteer Mentor David Broner on background:
Though friends frequently enter into business partnerships, SCORE mentor David Broner urges entrepreneurs to choose partners who bring certain knowledge, skills or capital to the new company. SCORE is a non-profit organization that helps small businesses get off the ground.
We highly recommend that anyone in, or considering entering, a partnership read and bookmark this highly educational piece.
Have a question about which legal entitiy is right for your business? Find a mentor today! We're happy to help!