explain two benifits of having in a sole proprietorship
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what is sole proprietor.
The word “sole” means “only” and “proprietor” notes to “owner”. A sole proprietor is the beneficiary of all profits. ... The sole proprietor has unconditional and full control over its business. Example: Beauty parlour, barbershop, general store and sweet shop run by a single owner.
Advantages of a Sole Proprietorship
- It's simple and affordable. ...
- Operating freedom and flexibility. ...
- Unlimited liability. ...
- Difficulty raising capital. ...
- Lack of financial control and difficulty tracking expenses.
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