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(a) Ease of formation. Legal formalities and expenses in forming a partnership are few compared to incorporating.

(b) Pride of ownership and direct rewards. Pride of ownership generates personal motivation and identification with the business. Profits could be increased if more people have a vested interest in seeing the business do well.

(c) Availability of more capital. A partnership can pool the funds of a number of people compared to a sole owner who has only his or her own resources to draw upon, unless loans are obtained.

(d) Combination of expertise and talent. Two or more partners, by combining their energies and talents, can often be successful where one person alone would fail. This is particularly true if the business demands a variety of talents such as technical knowledge, sales ability, and financial skills. It is important that working partners bring complementary skills to the business, thereby reducing the workload of each partner.

(e) Flexibility. A partnership may be more flexible in the decision-making process than a corporation, but less so than a sole proprietorship.

(f) Relative freedom from government control and special taxation. Compared to a corporation, a partnership is relatively free of restrictions and bureaucratic red tape.