advantages and disadvantages of sole proprietorship.docx -...

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There are various pros and cons of ‘Sole Proprietorship’ which arediscussed below:ADVANTAGES:1.Easy to set up– here is a first advantage of sole proprietorshipbecause a person has its own ideas and applied in his businessinto experimental form. The expenditures are much less becauseminimum capital required to form.2.Gain total profits and services– a person acquired total incomesand profits of business solely because there is no partnership withother person and no problem of salaries and wages.3.Decision making process- In this sole business, a single individualis an owner himself, due to which he takes all the legal decisionshimself because he is the owner of his own business.4.Individual authority– with decision making, person get benefit ofmanaging and controlling of total systems in his hands.5.Develop temperamental attributes- It helps to target focus ontheir business growth, self-development, and self-esteem

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Term
Fall
Professor
N/A
Tags
Business Law, Types of companies, Legal entities

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