Please help.
I want to partner with a man for a promising business this year. I don't have any capital yet. And he's ready and willing to give me start up capital. He's ready to pump in money when the business starts making waves. I also plan to save monthly from my salary and invest in the business.
The challenge now is that, this man wants us to share profits 70/30.
I disagreed and told him we should make it 50/50 but he refused.
Thing is, I'm the one to handle everything about the business; he'll mostly invest his capital, while I source all our goods and also market them.
Though he promised to market as well. But he's a busy man and I don't see him doing that effectively.
Should I accept and go on?

Please I need your objective advice because it'll be a longterm business.

Start with his terms and later argue the 50/50
Is his money and is not easy to bring out hard earned money

You should understand why he is insisting on 70/30 - if anything negative happens to the business at this stage of inception he's going to be the one bearing all the financial risks.

Since it is long term start with his own terms but let there be a clause with conditions/situations that will trigger your own terms.

slimjohn2k5:
Start with his terms and later argue the 50/50
Is his money and is not easy to bring out hard earned money

This is both dishonest and non feasible.
Na all these corner-corner way make us dey where we dey today as a country.

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Op, stick to your 50/50 if you know your onions.

Don't go and rush into something you'll renege on tomorrow because it doesn't favour you .

Look around for a loan if you're sure of yourself.

EstatePropertyP:
You should understand why he is insisting on 70/30 - if anything negative happens to the business at this stage of inception he's going to be the one bearing all the financial risk.

Since it is long term start with his own terms but let there be a clause with conditions/situations that will trigger your own terms.

More like it .