Starting a business as a couple is gathering momentum, with more partners choosing to merge their personal and professional lives. This trend appears to be driven by the desire for flexibility, shared goals and values, and the search for financial independence. The traditional corporate structure no longer appeals to many individuals, especially millennials, who seek work environments that foster collaboration and encourage a healthy work-life balance. As couples realise the potential advantages of running a business together, copreneurship is becoming a popular choice.
In this article, the experts at UK company formation agent, Quality Company Formations, explore the growing trend of couples joining forces to register and run businesses together. Read on to discover the motivations, benefits, challenges, and strategies for success that make this business model increasingly appealing to couples.
What is copreneurship?
Copreneurship refers to romantic partners co-owning or co-managing a business. Unlike traditional family businesses passed down through generations, copreneurs actively choose to start their ventures together from scratch. This model involves shared decision-making, establishing a new level of trust, and having a common vision of success.
Some well-known examples of UK copreneurs include Doug and Mary Perkins, the founders of Specsavers, who leveraged their optometry expertise to create a thriving business. Similarly, Susie and Jonathan Seaton built Twinkl from their home in Sheffield, transforming Susie’s frustration of finding good teaching resources into an education-resource empire. Their stories illustrate how couples can channel the strengths of their personal relationships into business success.
As Miriam Hawley and Jeffrey McIntyre point out in their book ‘You and Your Partner, Inc.’, based on over 50 interviews with entrepreneurial couples, for many, the blend of professional and personal life isn’t just about business success – it’s about enhancing the relationship itself. This growing trend shows that the deeper connection and shared growth many couples experience outweigh the challenges of co-managing a business.
Why are more couples starting a business together?
According to Hawley and McIntyre, couples take on entrepreneurship together for many reasons. The four main motivators they identified are as follows:
- The practical partnership: Developing a plan to make money together.
- The tradition behind your partnership: Continuing a family business or honouring entrepreneurial roots.
- The vision for your partnership: Envisioning a way of working and living together with shared values and aspirations.
- The mission for your partnership: Creating a business with a broader, impactful purpose.
While Hawley and McIntyre’s observations capture the core reasons why many couples decide to become copreneurs, the list is by no means exhaustive. For many couples nowadays, the choice to register a business together stems from wanting to escape rigid corporate structures and build a lifestyle that aligns with their values. They recognise that entrepreneurship gives them the flexibility to develop their roles, balance work with family life, and escape the confinements of traditional 9-5 work schedules.
Millennials and the evolving work culture
Millennials have played a role in the rising trend of couples registering companies together. They tend to highly value a work-life balance and the ability to make decisions collaboratively. Unlike other generations, they’re less inclined to stay in the same traditional role for multiple years. Instead, they seek opportunities to create something meaningful alongside their partners and pursue their passions.
Influenced by the rise of digital technologies, the evolving work culture has also created opportunities for entrepreneurial couples. It’s easier than ever before to start a business with minimal investment. Plus, as the gig economy continues to grow, more couples are deciding to use their skills in areas like tech, design, and social media to develop businesses that align with their interests and that have flexible, scalable models.
Regardless of the specific reason, the increasing trend of couples starting businesses together reflects a broader cultural shift – a move towards autonomy, greater flexibility, and the desire to create something that aligns with their personal values and passions.
Advantages of starting a business as a couple
One of the biggest advantages of running a business as a couple is the trust and mutual respect that already exists in the relationship. Generally, couples have similar ambitions and values, which can translate into smoother decision-making and better communication.
What’s more, copreneurs enjoy greater flexibility in their schedules, allowing them to align their work with personal priorities. Many find that spending time together in a professional setting strengthens their bond and offers them greater support and motivation.
As Ahmed El Shourbagy and Ashley Paguyo El Shourbagy, founders of @dogsofinstagram, shared in an interview, “[we] like to think that we fell in love first, but that developing a shared project is what strengthened our relationship. We learned how to work together, how to communicate more effectively, and how to resolve inevitable conflict faster through the work.” Ashley adds on her blog, “In forming a company, we were inadvertently agreeing to spend practically every single second of every single day together, for better or worse.” Their experience demonstrates how copreneurship can foster deeper communication and resilience in relationships.
Common challenges for couples running a company
Even the most well-matched business partners face challenges. One of the most significant hurdles is the overlap between work and personal life, which can blur boundaries and lead to burnout. Financial risks also play a major role, as both partners’ incomes are often tied directly to the business’ success. In addition, external pressures, such as market fluctuations, can strain the company and the relationship.
Secondly, conflicts are inevitable – they can arise from differing opinions, stress, or financial pressures. The key to managing these is developing effective strategies and understanding each other’s communication styles. Couples who successfully run businesses together emphasise needing a solutions-focused mindset rather than dwelling on disagreements.
Lastly, decision-making can be a bone of contention. A structured approach, where each partner has authority over specific business areas, can help avoid disagreements. Additionally, managing stress is essential – taking breaks and seeking external support helps maintain a healthy personal and professional relationship.
How to successfully run a company as a couple
Succeeding as copreneurs requires clearly defined roles and responsibilities to avoid any confusion. Open and honest communication is also crucial – especially when addressing challenges before they escalate.
Maintaining a work-life balance is another key factor. It’s easy for the lines between work and personal life to blur, leading to stress and burnout. Setting boundaries, such as clearly defined work hours and personal time, can help. Many successful business couples highlight the importance of making time for non-business activities to maintain a strong relationship outside of work.
Whether taking a weekend off for a getaway or factoring in a daily workout routine, creating that mental and emotional space outside the business is necessary. If you’re considering registering a company with your partner, why not connect with other copreneurs who have navigated these challenges? Their experience can provide helpful insights into what works and what doesn’t.
Legal and financial considerations for copreneurs
Starting a business with a partner requires careful planning, particularly regarding legal and financial matters. Choosing the right business structure – whether a limited company or limited liability partnership (LLP) – can affect tax obligations and how your business operates to stay compliant. Speaking to a lawyer is a sensible idea before you enter a business venture with a partner.
Financial planning is equally important. Couples will need to discuss managing joint finances, salaries, and plans to reinvest profits into their business. Discussing scenarios for selling or transitioning the company can also offer peace of mind if things take a different direction.
It’s also worth considering reserving a company name for a future project, especially if you’re planning for expansion or another venture. This can protect your brand identity, and you can better avoid conflicts around the company name’s availability.
Register a company and begin your joint venture
Starting a business as a couple is an exciting opportunity but comes with challenges. While it’s often rewarding, it requires careful planning, strong communication, and a shared commitment to success. As more couples explore the possibilities of copreneurship, those who approach it with a strategic mindset are most likely to succeed.
If you’re inspired by a shared passion or the desire for a more flexible work-life balance, why not embark on an exciting journey with your partner and form a company that reflects your values and aspirations? For more guidance on how to get started, reach out to the experts at Quality Company Formations, who will be happy to advise you.
