Disadvantages of Sole Proprietorship
Not what you're looking for?
Please explain some of the important disadvantages of sole proprietorship.
Purchase this Solution
Solution Summary
The solution below discusses the advantages and disadvantages of sole proprietorship businesses. This solution provides detail regarding why businesses should consider other business models of ownership other than sole proprietorship. This solution also provides website/ academic support regarding the topic of sole proprietorship.
Solution Preview
Before beginning a business, it is essential to determine not only the type of business you plan to open, but also the structure of that business. Various business types exists, but according to All Business, a popular online business journal, sole proprietorships are the most common form of businesses. Many people often question why sole proprietorships are so common... The reasons/ advantages include: sole decision making power, inexpensive legal formation costs, few "formal business requirements," no corporation taxes, etc. (All Business, 2013).
Although all of these business advantages look quite ...
Purchase this Solution
Free BrainMass Quizzes
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Introduction to Finance
This quiz test introductory finance topics.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media