Advantage and disadvantage of sole proprietorship, Finance Basics

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Advantage and Disadvantage of Sole Proprietorship

Advantage of Sole Proprietorship

High supervision of employees
Income motivate owner
Sole trade mostly skilled in the business as good for competition
Low bureaucracy as less time wasted

Disadvantages of Sole Proprietorship

Short economic life consequently does not attract long-term finance, hence, limited growth and expansion.
Boundless liability
Success depends on capability or judgment of owner

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