18th February 2013, 01:14 PM
Join Date: Feb 2013
Posts: 1

What are the advantages and disadvantages of sole proprietor?

advantages and disadvantages of sole proprietor..please giv eme the details for the same

25th April 2013, 02:22 PM
Senior Member+
Join Date: Feb 2012
Location: Delhi
Posts: 967
Default Re: What are the advantages and disadvantages of sole proprietor?

There is advantage as well as disadvantages of sole proprietor.

>>Advantages of a sole proprietor :-

1] A sole proprietor has complete control and decision-making power over the business.

2] Sale or transfer can take place at the discretion of the sole proprietor.

3] No corporate tax payments.

4] Minimal legal costs to forming a sole proprietorship.

5] Few formal business requirements.

Disadvantages of sole proprietor :-

1] Unlimited liability for debts as there’s no legal distinction between private and business assets

2] Your capacity to raise capital is limited

3] All the responsibility for making day-to-day business decisions is yours

4] Retaining high-caliber employees can be difficult

5] It can be hard to take holidays

6] You’re taxed as a single person

7] The life of the business is limited.

I hope this information will help you a lot.

All the best......................
Do you have any question? or have anything to say?

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