Setting up and running a business with a partner is common. It could be a friend, a colleague, your spouse, partner, sibling, parent or other family member.

Going into business with a partner can offer many advantages. Partners can have complementary skills and experience, they can share managerial responsibilities and financial risks, as well as the workload and the headaches that often come with running a business. Two or more heads can be better than one when it comes to making decisions and life can seem less lonely when you have a business partner.

But success in business partnerships requires effort. And there are risks, too, because business partnerships can go very wrong. In this episode we gain insight from serial entrepreneur Peter Harrington, who started his business simulation software company SimVenture with his brother, Paul.

Thanks to Sage for sponsoring this episode. Sage is currently offering listeners 90% off Sage Accounting for three months. Visit this link to claim your offer.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.