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My Friend Suggested We Start a Joint Venture Is This a Good Idea? #AskAMS

What do you do when your friend decided your should start a joint venture? Make sure you take AMS Accountancy's advice before accepting.

A joint venture (J.V.) is created by two or more parties, who agree to contribute equity (money or stock etc.) to the venture and share in its control, income, and expenditure.

Common reasons to enter into a J.V. are to: increase capacity, enter new markets and develop new products etc. You are most likely to be successful if you share common goals, agree on your investments and trust each other.

A solid agreement is essential! I would say that a J.V. has more potential for unresolved differences than a Company, or maybe a Limited Liability Partnership (LLP), because they have more formal and well established legal structures. Differences in a Company can be settled by shareholders voting, and it is similar in a LLP.

If you want to go ahead with a J.V. make sure you get good advice.

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

Website Email 01793 818400

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My Friend Suggested We Start a Joint Venture Is This a Good Idea? #AskAMS

What do you do when your friend decided your should start a joint venture? Make sure you take AMS Accountancy's advice before accepting.

AMS Accountancy Ltd

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