sole proprietorship is useful for small business
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1. Sole trading concern is owned by only one person.
2. He uses his own skill and intelligence for his
business.
3. Sole trader brings capital from his own savings. He may borrow from friends and relatives. However, the capital collected is limited.
4. He alone takes decisions of the business. Therefore, the managerial ability is also limited.
5. Because of limited capital and limited managerial ability, it is not possible to expand the business beyond a certain limit.
6. Thus, a sole proprietorship is useful for a small
business where limited capital and less managerial ability is needed.
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