advantages sole proprietorship quizlet

What are the advantages of a sole proprietorship quizlet

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What is an advantage of a sole proprietorship?

start-up costs are low. you have maximum privacy. establishing and operating your business is simple. it's easy to change your legal structure later if circumstances change you can easily wind up your business.

What is an advantage of being a Sole proprietorships quizlet?

The main advantages of a sole proprietorship are that these businesses are easy to open or close, face few regulations, give the business owners freedom and control, and let the owners keep the profits.

What are the advantages and disadvantages of operating a sole proprietorship quizlet?

Advantages: Easy to start, easy to manage, profits are not shared, do not pay income taxes, and easy to end the business. Disadvantages: The one owner is fully responsible for all losses, difficult to raise capital ($), the owner often has little experience, and difficult to find qualified employees.

What are the advantages and disadvantages of owning a sole proprietorship?

Sole proprietorships bring many advantages, including operational flexibility and a simple tax structure. However, you face a number of disadvantages as well, including unlimited personal liability, the self-employment tax, a potentially higher income tax, difficulty in raising capital and limited duration.

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