Problem
Workshop Activity 1 Assume that you and two of your friends, Maliga and Maryanne, are considering starting an interior design business together. You have the expertise to manage the finances. Maliga just finished an interior design course at the top of her class. Maryanne has dabbled in interior designing and has just completed a marketing degree. The three of you have been wondering whether a partnership structure or some other structure would be most suitable for your business. Both of your friends are not very familiar with the characteristics of a partnership and have tasked you to do some research and explain to them, the pros and cons of structuring the business as a partnership.
Task
List down and explain the advantages and disadvantages of a partnership structure so that your two friends will be better informed on whether a partnership structure will be suitable for the business.