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What advantages does a sole proprietorship offer? What is a major drawback of this type of organization?

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What advantages does a sole proprietorship offer? What is a major drawback of this type of organization?

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Solution Summary

This solution discusses some of the advantages that a sole proprietorship offers.

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In the sole proprietorship one person is fully and personally liable for all the obligations of the business including its debts. He/she is also entitled to all of its profits and exercises complete managerial control. There is simply too much responsibility on one person's shoulders and this creates a very risky ...

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Umut Oltulu, MBA
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  • BSc, Dokuz Eylul University
  • MBA, Texas A&M University-Kingsville
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