What are some Advantages and Disadvantages of Sole Proprietorships, Partnerships, and Corporations??

What are the Disadvantages of Corporations??

Disadvantages of corporations are start-up cost and effort, heavy regulations, double taxation, and loss of control.

What are the Advantages of Partnerships??

The advantages of Partnerships are easy to open or close, few regulations, access to resources, joint decision making, and specialization.

What are the Advantages of Sole Proprietorships??

The advantages of Sole Proprietorships are easy to open or close, few regulations, freedom and control, and the owner keeps the profits.

What are the Advantages of Corporations??

The advantages of corporations are access to resources, professional managers, limited liability, and unlimited life.

What are the Disadvantages of Sole Proprietorships??

The disadvantages of Sole Proprietorships are limited funds, limited life, and unlimited liability.

What are the Disadvantages of Partnerships??

The disadvantages of partnerships are unlimited liability, potential for conflict, and limited life.