Question

explain the merits of sole proprietorship​

Answer 1

Answer:

One of the functional advantages of sole proprietorships is that they are easier to set up than other business entities. A person becomes a sole proprietor simply by running a business. Another functional advantage of a sole proprietorship is that the owner maintains 100% control and ownership of the business.

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Answer 2

Advantages of Proprietorship

• Easy to Establish. ...
• Easier to Operate. ...
• Sole Beneficiary of Profits. ...
• Compliance & Taxation. ...
• Privacy. ...
• Unlimited Liability. ...
• Difficulty in Obtaining Funds. ...
• Higher Tax Incidence.

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