Understanding Joint Ventures: A Guide for Businesses in the US & Canada
Here's a striking statistic: partnerships represent only 7 to 10 percent of all U.S. businesses, yet they account for 15 to 20 percent of companies that survive their first year. This suggests that businesses structured as partnerships—including joint ventures—have a significantly higher survival rate than their solo counterparts. Joint ventures offer a compelling path for business expansion, but many entrepreneurs miss opportunities or make costly mistakes simply because they don't understand how these partnerships work. Business owners can explore comprehensive guidance on joint venture formation to avoid these common pitfalls. Whether you're eyeing international markets, seeking to share development costs, or wanting to combine expertise with another company, joint ventures can accelerate growth in ways that going it alone cannot. The Challenge Most Business Owners Face Many successful business owners eventually hit a growth ceiling. They have a solid operation, loyal c...