ADM 3360 Chapter 14: chapter 14
8 Mar 2017
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Simplicity: there are few licensing and registration requirements. The sole proprietor just stats doing business and is free to discontinue business activities at any time. Speed and independence: since the sole proprietor has no partners and is not. Unlimited personal liability: the sole proprietor carries the risk of the business failing and losing bother business and personal assets. Working alone: the sole proprietor is responsible for all aspects of the business operation. February 2, 2016 employees, i is difficult to retain high-calibre people because of the limited opportunities available to them in a sole proprietorship. Limited access to capital: the capital available to the business is limited to the assets of the proprietor and the extent of her credit. Limited life span: the owner"s death terminates the business. Tax disadvantages: see tax benefits answerable to a board of directors, he can make decisions quickly and independently.
