Merits of sole proprietorship
What are the merits and demerits of sole proprietorship? Is an is advantage of a sole proprietorship? Can a sole proprietor be sued? What is a sole proprietorship and why is it important? His funds are not adequate enough to. Lack of specialization:. All the qualities such a judgement,. Sole proprietorship means single ownership. Thus a sole proprietorship business means a business owned by a single person. A sole proprietor puts in his own money (capital) into the business. He may also borrow from others at his own risk. There is hardly any formality involved in setting up this type of organization. Sole trader is a type of business unit where a person is solely responsible for providing the capital, for bearing the risk of the enterprise and for the management of business. For starters, there are no separate business tax returns required. One of the reasons entrepreneurs prefer sole proprietorship over other business structures is not having to be accountable to ...