+91-9821891997 info@indianlenders.org

Partnership Opportunities: Introduction

Partnership Opportunities: Introduction

Indian Lenders Association is very well aware of Partnership Opportunities’ importance in the current scenario of cut-throat competitions. Indian Lender’s Association is well-versed in the multiple reasons why growing and running a business can become tedious and difficult. Starting from compliance with other workloads till the last task, forming a partnership in the lending associations like ours becomes necessary.

Partnership, in general, is also a scapegoat for many budding entrepreneurs and their organizations. Choosing the right collaboration involves a vivid assessment of your business needs. As a prestigious organization, we would never want anyone associated with us to risk prosperity over any possibility of future conflict. It is why we partner with market leaders & organizations who share the vision of reshaping the finance industry. We together focus on bringing the ‘next big change.’ 

Our partners also want the businesses involved to be viewed as viable alternatives for borrowing and investing. We plan to provide our associated business organization with only ethical and experienced partners who can solve challenges and address challenges throughout the private lending industry. To help propel your growth and provide advantages to our trusted partners – we provide direct and efficient access to members who have voluntarily dedicated themselves to upholding a standard of excellence. 

We strive for all possible methods to ensure secure collaboration for the growth of the associated businesses in less time. We shall provide the right Partnership Opportunities for our organization’s development and prosperity and related business organizations.

Partnership and Partnership Opportunities

The Indian Partnership Act, 1932 defines the term partnership as “the relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all.”

The people who usually own the partnership business is known as ‘partners,’ individually and collectively, are known as ‘firm’ or ‘partnership firm.’ The name under which partnership business carried on is called ‘Firm Name.’ In a way, the firm is nothing more but an abbreviation for partners. Partnership opportunities are the means to address the needs of any organization.

In short, it is a joint effort or Strategic Alliances made towards a mutual goal. Partnership opportunities are the avenue or options available. Two or more organizations work together in a similar environment to conduct and share in the organization’s financial outcomes. The partnership is crucial for the growth of any business seeking venture. From time immemorial, entrepreneurs and traders have used a strategic alliance principle to conduct their business operations; the trend is still very much appreciated and implemented in the current scenario. 

A partnership manifests itself in different types, ranging from business owners cooperating to invest in a project to share technical knowledge & ideas between firms. Whatever business does, it is essential to look for the right partnership agreement that benefits both parties. The leading disadvantage of the sole proprietorship in financing and managing any budding business paved the way for a partnership as a viable option. 

The partnership opportunities serve as an answer to the needs of more significant capital investment, varied skills, and sharing of risks. Partnership Opportunities are a blessing in disguise, especially for lending associations and other budding organizations. The primary factor is the risk-sharing features in the course of the Partnership organization. The leading factor behind the flourishing concept of Partnership Opportunities is the sharing of risk amongst the partners. 

Eligibility 

Just spelling out Partnership Opportunities is not enough. As a lending Association, we must also state other eligibility criteria to bring forth the curious crowd keen to join a league of available business opportunities[1] for our mutual growth and development. We come forward to bring into the limelight those individuals as our partners who can contribute efficiently in the long run to achieve the organizations’ goals and aims. 

We view the partnership as more than trades-in-kind: our partners should share our commitment to service, integrity, and drive to become an association-influencing catalyst for growth and development. Ideally, partners should be meeting as many following criteria as possible.

  • Be able to manage the day-to-day affairs of the organizations.
  • Should ensure that the business remains profitable
  • Should be liable for losses incurred by the partnership
  • Be a responsible member of the Indian Lenders Association.
  • Support our strategic goals to foster awareness, promote the best working culture, and enforce the industry’s code of ethics.
  • Relate directly to the professional activities of members and their business needs.
  • Help publicize ILA as the lending professionals tool to assist in achieving greater visibility in the market.
  • Provide members with quality service and products.
  • Commit to maintaining regular contact with ILA policies regarding new offerings, updates on member usage, primary contact personnel changes, and any other changes that may affect the relationship.

Features of Partnership

  • Risk bearing factor: The partners assume the risks involved in business operation as a team. The reward usually pops up in the form of profits shared by the partners in an agreed ratio. However, they also share losses at the same rate in the event of the firm incurring losses.
  • Decision making and control: The partners tend to share the responsibility of decision making & management of day to day activities—decisions taken with mutual consent. The actions of any partnership organization are handled through the combined efforts of all other acting partners. 
  • Mutual agency: All the partners or any acting partner usually carries on the business on behalf of the others. Thus, every partner is both an agent & principal for himself and the others, i.e., he can bind by his acts the other persons and bound by the other partners’ actions. The importance of the mutual agency element lies in the fact it enables every partner to carry on the business on behalf of others.
  • Lack of continuity: The partnership is characterized by a lack of business continuity since the death, retirement, insolvency, or insanity of any partner can bring an end to the company. However, if they so desire, the remaining partners may continue the business based on a new agreement.

Conclusion

Indian Lenders Association is continuously seeking new and efficient partners who can benefit our members and help achieve our goals and objectives. Our partner-related programs do more than raise any company’s visibility; they allow the company to target a niche market directly and provide a platform to grow their credibility. There are multiple roadmaps we can work together to create a win-win scenario for mutual growth and prosperity. As the Indian Lenders Association, we offer no faith promises and trust; all we tend to do is invite maximum to avail partnership opportunities to help achieve our goal of building lasting mutual benefit and growth relationships.

Read our article:Peer-to-Peer lending Business: Thriving amid Existing Competition