How to Find a Business Partner: Proven Methods (2026)

A solid business partnership is more than a support system—it’s a strategic asset that converts mutual respect, trust, and communication into commercial success. JP Morgan’s recent data reflects this: some 43% of entrepreneurs are planning strategic partnerships or investments as a way to grow their business.

But while there’s no shortage of business partners to work with, especially when using apps like CoFoundersLab or LinkedIn, the process isn’t something you want to rush. Choosing the right partner can make the difference between profit and pain. 

Here, learn how to launch a successful business co-ownership, explore partner-matching platforms, and review tips for formalizing your partnership agreement. Plus, discover a list of essential questions to ask potential partners.

Do you need a business partner?

Before you begin your search for a good business partner, first, ask yourself if you’re ready. 

If you answer yes to most of these questions, then it’s probably time to start looking for the right business partner:

• Do you need help conquering the workload of growing a business? 
• Are you lacking experience, skills gaps, or perspective in some areas? 
• Do you work well with others? 
• Are you willing to give up control in your business?
• Can you find business partners with the same growth goals? 

Pros and cons of having a business partner

A happy business marriage promises several advantages. 

Pros of finding a business partner:

• Shared workload. Pool resources and expertise for a well-rounded venture. For example, you might focus on marketing and sales, while your partner specializes in product development.
• Better decision-making. Another perspective can prevent blind spots and reduce bias in decision-making. 
• Overcome entrepreneur loneliness. A business partner who shares your vision can cultivate a sense of support and inclusion. You’ll also have an accountability partner to keep you on track. 

Cons of finding a business partner:

• Split revenue. A business partner has a financial stake in your business. Any profit you make will be shared. 
• Risk of conflict. Differences in work ethic, money management, or decision-making can result in disputes. Outline responsibilities upfront, and find a partner with a complementary work style to prevent personality conflicts.
• Relationship strain. Working with a family member or friend can have its advantages, but there’s a risk of damaging your personal relationship if you form a business relationship with them.

What to look for in a business partner

There’s a fine art to finding a business partner, and not everyone you connect with personality-wise will make the perfect co-founder. 

For example, “It’s really unusual to get both the business side and the creative in the same person,” says Diane O’Connor, founder of Weston Table, in a Shopify Masters interview. “If you are not that creative person, go out and find somebody who you can work with, but somebody who will listen.”

As you evaluate your options, consider:

• Complementary skill sets. If you’re great at product development but not so good at money management, an entrepreneur with a financial background would make a great business partner. 
• Shared vision and values. Issues can arise if your partner doesn’t share your entrepreneurial mindset. Seek a partner with experience running a business, so you have a basis for assessing their personal ethics, reliability, and commitment.
• Financial compatibility. Look for a business partner with the same financial goals and a similar level of risk tolerance. Ideally, you start on the same page regarding your payout timeline.
• Trustworthiness. Your business partner will have complete access to your business. They can view sensitive information, ascertain your finances, and represent your company to customers. Make sure you pick a trustworthy partner by conducting a background check.

How to evaluate business partner compatibility

Before you put pen to paper and sign a partnership agreement, make sure you’re choosing the right person by evaluating compatibility: 

• Strategic alignment. It’s essential that co-owners work toward the same goal. Awkward situations can arise when visions differ, like when you want to grow a lifestyle business but your partner aims to build a team with an exit plan for an investor buyout. 
• Operational complementarity. Map out each person’s strengths and weaknesses to make sure you’re filling gaps. Compare work styles: ideally, you should have one planner and one do-er. 
• Cultural fit. Write out your goals, values, and expectations before you search for a business partner. Use this document when shortlisting potential co-founders to ensure they’re a good cultural fit.
• Leadership chemistry. Your partner should have a similar leadership approach. Test this by asking them how they’d handle difficult situations, like dealing with an unhappy customer or firing an underperforming employee. 

How to find a business partner

1. Attend conferences and meetup groups based on location and business interests

Attend events—both digital and in-person—to meet potential co-founders within your industry. Popular events for entrepreneurs and business owners include:

• The Small Business Expo
• The Business Show US
• Main Street Summit

2. Search your professional network for the right business partner

Have you worked with someone in the past who has the qualities you’re looking for in a business partner? Reach out to former clients and past co-workers, and keep your LinkedIn profile updated to indicate that you’re open to networking opportunities. You can find potential business partners anywhere, so keep an open mind.

3. Find a business partner by talking to friends of friends

Look one degree past your personal and professional networks—are there folks you’d like to meet, or reputable business brokers you can contact? Ask for an introduction and let friends know what you’re working on—natural introductions may come your way.

Earl Cooper, co-founder of Eastside Golf, has a word of warning in this situation: “I think you’ve got to understand everyone’s ‘why,’” he explains in a Shopify Masters interview. “Like, why are you doing this business? You can’t just want to work with your friend; I don’t think that’s a good enough reason—it has to be a bigger reason than you both.”

4. Sign up for networking apps

Dedicated apps are excellent tools for finding potential co-founders and partners outside your existing networks. Start with professional networking sites where business ideas and entrepreneurship are regularly discussed. 

Platforms purpose-built to find a business partner online include:

• CoFoundersLab. A startup community and co-founder matching platform with more than 700,000 entrepreneurs.
• FounderCloud (previously StartHawk). An online directory to browse potential partners.
• Bumble Bizz. The professional networking version of the popular dating app. 
• FindPartner. A business partner finder where you can summarize what you’re looking for and have entrepreneurs pitch themselves.

Aside from business partner matching websites, you can also find entrepreneurs in business community groups and masterminds. Engage in Facebook, LinkedIn, and Reddit groups for small business owners. 

5. Consider classmates

Your working relationship with current or former classmates may indicate compatibility as co-founders. If you’re still a student, school is a natural incubator for small businesses. Consider testing your ideas and partner compatibility by collaborating on a group project.

📚Read more: What is a business mentor and how to find one

10 questions to ask before entering a business partnership

Once you’ve met someone, how do you accurately assess their compatibility as a business partner? Ask yourself these 10 questions about this person and your relationship:

1. Do they bring ideas to the table, and do they listen and consider your ideas?
2. Do you already know them, or do they have solid references?
3. If you already have a non-business relationship or friendship, have you discussed how you will establish boundaries?
4. Are they as invested as you are in the business idea (in terms of time, money, and effort)?
5. Do you share a similar business vision and goals?
6. Are your skills complementary?
7. Have you mutually decided on the roles you will fill in the partnership?
8. If you’ve had conflict or a difference of opinion with them in the past, were you reasonably able to find a solution or compromise?
9. Have you discussed what will happen to the business should it—or the partnership—fail?
10. Are you both willing to protect yourselves legally and financially by committing details and expectations to paper?

If you answered yes to most of these questions, you have a chance of building a mutually beneficial partnership. It’s not a perfect test, though—be sure to explore every “what if,” communicate often, and consult a legal professional to draft an agreement to protect the partnership and business.

If you answered no to most of these questions, it doesn’t necessarily mean you’re completely incompatible with a prospective partner. But take these results as a sign that your partnership requires more investigation before signing a contract.

How to formalize a business partnership

Once you’ve established compatibility with your new business partner, run background checks to confirm what they’ve told you is true and accurate. Review their business history and vet them with references from previous employers or partners. 

“Business isn’t friendly, and that’s a hard lesson that I’ve had to learn,” says Ortega founder Etienne Ortega, in a Shopify Masters interview. “It’s not friendly, and there’s going to be people out who are out for themselves—which is fine, by the way, more power to you—but for me, it’s important to have people around me that I could trust, that share my vision and want to work alongside myself to make this happen.”

If you’re hesitant to jump straight into a long-term partnership, consider a trial period. This gives you a set time—for example, three months—to see how you work together before signing an official agreement.

Once you’re ready to put pen to paper, finalize the details in a partnership agreement. The agreement should include:

• Roles and responsibilities
• Ownership and equity splits
• Decision-making and voting rights
• Financial contributions 
• Intellectual property ownership 
• Codes of conduct—for example, non-compete agreements and non-disclosure agreements (NDAs)

Now’s also a good time to think about your legal business structure, including required registrations or licenses. 

General partnerships (GP) tend to work for partners who split management and liability equally. A GP is easy to establish since there’s no formal application. However, it doesn’t offer much protection, and you may be personally liable for your partner’s actions.

Some entrepreneurs opt for a multimember limited liability company (LLC) instead. This separates your personal and business assets and offers tax advantages. 

If you’re unsure which to choose or need help forming a partnership agreement, consult a legal or financial adviser. Their services can be expensive, but paying for professional advice can save you money in the long run.