In Nigeria, most business owners prefer the one-man business to the partnership alternative. A large percentage of entrepreneurs fear losing some control they have over their businesses, and subsequently some profit too, if they take a partner. But this mindset is fast becoming archaic. New generation businesses are realising the multiple effect of partnering for growth.

* Partnership is the mutual alliance / agreement between two or more parties to do business together in the course of which a sharing of responsibilities, control, risk and, consequently, returns is involved.

* Partnership opens up new opportunities, brings fresh capital, insight and depth of experience to the business.

* Enhanced idea development results as every idea is judged from more than one angle, gaining insight from the differing viewpoints of each partner.

* Partnership promotes efficiency through opportunity for division of labour. Each partner can specialize in a particular aspect of the production process. This results in a greater efficiency and reduces wastage of both time and scarce resources.

* Partnerships especially between companies allows access to new technology and transfer of technical know-how.

* Some of the best products in the market are produced by partnerships, the mobile phones Sony Ericsson T100, P900; T68i etc. are products with cutting edge technology in mobile communications produced by the partnership between two electronic giants, Sony And Ericsson.

* Guess what? You don't really lose control but gain expertise, new ideas and capital expansion opportunities to pursue your ambitions. In other words, you can begin a partnership, get established and move on to pursue other business interests, with the knowledge that your first business is being properly taken care of.