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Unformatted text preview: 3. Advantages: complete control over the business. can sell the business when ready. no corporate tax payments. Little or no legal costs to forming a sole proprietorship. hardly any formal business requirements. Disadvantages: can be held personally answerable for the debts and responsibilities of the business. Owner is responsible for responsibilities and business decisions Owner may not be able to get investors to invest in their business....
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- Spring '09