Need Advice For Partnership

[keyshawn]

Hi All
My Wife is trying to start a Home Care business in our local area, we have everything in place (a business premises, the qualifications and all the policies and procedures in place).
We had a interview at our nearest CQC office this morning to register the business and my wife as registered manager, we also had a nominated individual who has managerial experience go in for an interview this afternoon.clicking test
CQC have now been back in touch with us saying that the application would probably be declined because of my wife's lack of managerial experience, she has all the qualifications (Hons Degree in Health & Social Care management) but that alone isn't enough. Everything else is good but for this one issue.
Our Nominated individual has the credentials to be the registered manager which would be good but he doesn't trust anyone now as he's been used by two other companies in the past and his wage along with staff wages and office rental would swallow up all of our £10k savings within the first three months, I suggested to my wife that we take him on as a partner in the business but I'm not 100% sure on the best way to go about it mouse reviews
If he is to be a 3rd partner then would we say he'd need to put a cash sum (say £5k) into the business or is his experience as a manager his contribution into the partnership, also! if he agrees to be a partner we'd need some form of legal documentation drawing up which would cost money that we can ill afford. Is there a template available that we can download and adjust to suit our business.

[R0b]

Is there a template available that we can download and adjust to suit our business.

In response to the above I have one word for you, dangerous.*

Entering into a partnership arrangement has it's quirks and may be subject to the Partnership Act 1890 if you aren't careful. For something like this, I suggest you don't scrimp and shop around because there's plenty of firms ranging from high street to large practices who will quote you different prices or may offer you a fixed fee.*

However, if you want to go ahead and attempt a DIY job, then you won't find a template on here but if you Google there may be something out there. You only have yourselves to blame if it all goes pear-shaped!

[Manxman]

If you are contemplating starting this business then you should have an accountant and a lawyer you should be directing these questions to.

[Jeyson]

It will also be interesting to me to read advice.

[wales01man]

best advice would be to consult a solicitor to discuss options there are several if you want a partnership