Entrepreneurs may consider a joint venture for several reasons:
Shared Resources: Pooling resources such as capital, skills, and technology can significantly reduce the burden on any single party. Risk Mitigation: Sharing the risks involved in a new business venture can make the endeavor more manageable for all parties involved. Market Access: A JV can provide access to new markets and distribution networks that would be difficult to penetrate independently. Innovation: Combining different perspectives and expertise can lead to more innovative products and solutions.