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What are the advantages and disadvantages of sole properietorship of Sonic
Advantages of a Sole Proprietorship A sole proprietor has complete control and decision-making power over the business. Sale or transfer can take place at the discretion of the sole proprietor. No corporate tax payments. Minimal [ legal costs to forming a sole proprietorship. Few formal business requirements. Disadvantages of a Sole Proprietorship The sole proprietor of the business can be held personally liable for the debts and obligations of the business. Additionally, this risk extends to any liabilities incurred as a result of acts committed by employees of
the company. All responsibilities and business decisions fall on the shoulders of the sole proprietor. ]
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Expert answered|jher000|Points 7182|
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Asked 5/5/2012 11:50:39 AM
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