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Running head: ADVANTAGES AND DISADVANTAGES OF A SOLE PROPRIETORSHIP 1Advantages and Disadvantages of a Sole ProprietorshipStudent’s NameUniversity Affiliation
ADVANTAGES AND DISADVANTAGES OF A SOLE PROPRIETORSHIP2Advantages and Disadvantages of a Sole ProprietorshipIntroductionA sole proprietorship is mainly a business managed and owned by a single person. Itremains the most straightforward and familiar kind of business body. The sole proprietorshipmay have numerous individuals working in the business. However, it must maintain only onesingle proprietor. Sole proprietorships are attached to multiple advantages as compared to otherbusiness bodies. For instance, they are simple to create, and the proprietors enjoy solitarydominance of the profits of the business (Cheeseman, 2016). They equally have drawbacks, thelargest of which is that the proprietor is responsible for the entire business liabilities and losses.Notably, with limited permits to acquire or discrete forms to accompany, sole proprietorships arerelatively simple to create, simple to dissolve, and simple to maintain. Therefore, a detailedanalysis of the advantages and disadvantages is imperative before establishing a sole

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Term
Fall
Professor
NoProfessor
Tags
Business Law, Sole Proprietorships, disadvantages of a sole proprietorship

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