Sole Proprietorship

A person who is an owner of a business

Sole Proprietorship

Sole proprietorship is a business owned by one person that pays income tax on profits that are from the business.
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Low Cost

There is a low cost to being a sole proprietor.

Flexibility

In order for you to be a sole proprietor your schedule has to be flexible.

Paperwork

The paperwork that ties in with this is very minimal.The sole proprietor doesn't file a corprate tax return. If the person is owning the business in their own name there is no paperwork required to open the business.

Identity

Your legal identity is shared by the sole proprietor. It lets the owner build a brand identity and a name recognition.

Advisory

The sole proprietor does not offer any protection from the other business forms.If sued, personal assets of a sole proprietor is at a risk. Raising money without a corporate form in place to issue units or shares to the investor can be impossible or difficult.

BIBLIOGRAPHY

eHow

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