Because doing business in partnership is to accomplish one thing, not once. The essence of business is the emotional connection between people. Smart people may be effective for a while, but in the long run, business will last longer. Because many businesses, especially old customers, come with personality, and of course products are also very important.
Smart people, not only do business for a long time, but also may have conflicts due to interest disputes in the process of cooperation with them. So relatively speaking, honest people are better.