Advantages of Sole Proprietorships

No special taxes

All the profits are taxed as personal income of the owner; and the owner pays the normal income tax on the money.

Leaving a legacy

Owners can leave an ongoing business for future generations.

Retention of company profits

Owners keep the profits earned and the benefit increases as the business grows.

Pride of ownership

People who own their own and manage their own businesses are rightfully proud of their work.

Being your own boss

The mistakes you make are your own but so are the victories.

Ease of starting and ending a business

There is no one to consult or disagree with about such decisions.