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- A sole proprietorship is a business owned by one person.
- Advantages of owning a sole proprietorship starting a sole proprietorship is easy to do.
- A major disadvantage of owning a sole proprietorshipis that the owner has unlimited liability.
- What is a Sole Proprietorship?
- What are the advantages and disadvantages of having a sole proprietorship.
- What is a Partnership?
- What are the Advantages Disadvantages of Partnership?
- Advantages of owning a partnership. As with sole proprietorship,partnerships are easy to start. Potential partners might only need to obtain a license. Unlike a sole proprietorship, it is easier for partnerships to obtain capital.
- One disadvantage isthat all the partners share the business risks.
- A partnership is a business owned by two ormore people who share its risks and rewards.
- A major advantage of acorporation is limited liability. Corporations faceseveral disadvantages. They pay taxes on their income, andstockholders pay taxes on profits issued to them.
- A corporation is a company that is registered by a state andoperates apart from its owners.
- What is a corporation? And what are the Advantages Disadvantages?
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