After studying sole proprietorship, partnership, limited company forms of business organizations; it is evident that each form has certain advantages as well as disadvantages. The important factors to consider before starting a business is to choose the business organization.
Sole Proprietorship
Why Choose Sole Proprietorship as Your Business Organization?
Despite limitations of size and resources, many people continue to prefer sole proprietorship over other forms of business organization. Sole proprietorship refers to a form of business organization which is owned, managed and controlled by an individual who bears all risks and receives all profits.