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Week 1 The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually, the individual who has...

Week 1

The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually, the individual who has day-to-day responsibility for running the business. Sole proprietorships own all the assets of the business and the profits generated by it.


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The reason why majority of small businesses start out as sole proprietorships is mainly because of the cost of starting, less... View the full answer

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