short essay - MGT 320 Short Essay Why Sole Proprietorship Is So Popular As defined sole proprietorship refers to an unincorporated business owned by a

short essay - MGT 320 Short Essay Why Sole Proprietorship...

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MGT 320 Short Essay Why Sole Proprietorship Is So Popular As defined, sole proprietorship refers to an unincorporated business owned by a single person (Beatty and Samuelson, 725). Sole proprietorships are the most common form of businesses in the United States. According to the statistics, 80 percent of America’s 32 million businesses are sole proprietorships (Tomasky).There are many reasons for most businesses to choose to operate as a sole proprietorship. First of all, sole proprietorship is the simplest form to operate a business. A sole proprietorship does not cost as much as partnership or corporations to start. It is not necessary for a sole proprietorship to hire a lawyer or register with the government (Beatty and Samuelson, 725). The tax filing procedure is also simpler compared with other business forms. In addition, handling money is easier for a sole proprietorship business. Employing process is not as complicated as other business forms. Married

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