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independent business, that person is then entirely responsible for
its success or failure. Any profits go to the owner; any losses are his
orher responsibility as well.
One of the advantages of a sole proprietorship is that an owner
can make decisions without consulting anyone. And individual
proprietor, by law, pays fewer taxes than does a corporation.
However, there are disadvantages
to this form of business
organization. A sole proprietorship ends with the incapacity or
death of the owner.
The sole proprietorship is well adapted to many kinds of small
businesses.
Some economic benefits of small businesses are:
a small business is often the starting
point for developing
a new product or service;
the small business can give a person a chance to get
experience;
small businesses are well suited for meeting specialized local
needs;
small businesses provide a service where knowing one’s
customers is important.
Достарыңызбен бөлісу: 
