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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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CH 36 Sole Proprietorships Assignment

CH 36 Sole Proprietorships Assignment

Q List at least three advantages and disadvantages of this form of doing business.

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The first advantage is that the entire business is owned by the owner in case of sole proprietorship. Therefore, all the profits do not need to be shared but are completely gained by the owner. Business taxes of the corporate category are not required to be paid by sole proprietors (Clarkson, Miller & Cross, 2016). The flow of income is through the individual who is the owner of a sole proprietorship. There can be opportunities for being flexible in case of running a sole proprietorship. This is because there is no one to dictate or dominate the sole proprietor to run the business in a particular manner.