A partnership business structure is a little more complex than sole trader. With this structure, two or more people start a business and can legally share profits, risks and losses in accordance with the terms and conditions of a partnership agreement, or, where no formal partnership agreements applies, in accordance with the common law terms and conditions of partnership. See my detailed explanation of Sole Trader here.
See other posts on options for business start-ups: Sole Trade, Partnership, Company or Trusts.
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