explain various pros and cons of sole proprietorship business?
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Sole proprietorships have several advantages over other business entities. They are easy to form, and the owners enjoy sole control of the business profits. However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.
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--> The sole proprietorship gives you absolute control over your business, more so than other business structures, such as partnerships and corporations. Very often, a small business owner will choose to start with a proprietorship. As the business grows, he or she might explore the possibility of forming a partnership, a corporation, or a Single Member Limited Liability Companies (or sole LLC).
A sole proprietorship gives you full control over your business.