Tax efficiency - partnerships are 'tax transparent', meaning profits are taxed on individual partners' Self Assessment, potentially at lower rates than corporation tax.

Shared liability - in general partnerships, risks and debts are shared, which can reduce individual financial exposure compared to sole trading.

Combined expertise - partners can bring different skills and knowledge, enhancing business capabilities and decision-making.

Easier setup - forming a partnership is generally simpler and less costly than incorporating a limited company, with fewer regulatory requirements.

Flexible profit sharing - partners can agree on how to divide profits, allowing for customized arrangements based on contribution or investment.

Access to more capital - multiple partners can pool resources, making it easier to fund business growth and investments.

Improved decision-making - collaborative approaches can lead to better business strategies and reduced risk of unilateral mistakes.

Continuity planning - partnerships can include provisions for new partners to join, helping with business succession and long-term stability.

Privacy - unlike limited companies, partnerships don't have to file public accounts with Companies House, keeping financial details private.

Adaptability - partnerships can be easily restructured or dissolved if business needs change, offering flexibility as the business evolves.