Why there is lack of business continuity found in sole proprietorship?
Answers
Answer:
Business disruptions can impact organizations of any size in any location. From weather, to power outages, political events or even virus outbreaks, every organization needs to develop a business continuity plan to ensure its business operations can continue, no matter the disruption.
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Answer:
A sole proprietorship is the oldest and the most common form of business. It is a one-person organization where a single individual owns, manages, and controls the enterprise. Ease of formation is its most significant feature of the proprietorship because it is not required to go through elaborate legal formalities to start it. No law makes it mandatory to register the proprietorship. No agreement, deed, or documents are to be prepared for starting a proprietorship, and the firm’s registration is also not required. However, the owner may be required to obtain a license specific to the business line from the local administration and register its Trademark to secure its reputation.
Explanation:
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