Managing Director of Entrepreneurial Services Division II and Director of the Illinois Small Business Development Center, Maura Mitchell, shares successful stories for business partnerships.
The concept of launching your own business can be nerve-wracking. What happens when you venture on the entrepreneurial journey with a partner? When two like-minded individuals share a common goal, their combined experiences can make a very successful business venture. There are many examples of successful business partnerships — Walt and Roy Disney and Richard and Maurice McDonald being just a couple of them. When structured correctly, great benefits come with having a business partner. A solid partnership means shared responsibility, expanded knowledge and experiences, a lower start-up cost for each partner, additional capital to grow the business, and an increased capacity to borrow money from a lender.
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