Advantages of Partnership Firm
- Formation of a Partnership Firm is easy
- Tax Advantage
- There is flexibility
- Most suitable for small and medium scale business
In partnership firm, there is sharing of risk by the partners respectively.
Frequently Asked Questions:
What is the number of partners required to start a partnership firm?
Minimum 2 and maximum 10 for banking business and 20 for any other business.
Is Partnership Firm required to be registered?
Though it is not compulsorily required to be registered, it is highly recommended that you register the Partnership Firm.