Advantages of Sole Proprietorship

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Sole Proprietorship

A business owned and run by one person

Ease of getting out of the business

It is easy for the owner to exit or close the business

Ease of management

The business is easy to manage

Business does not have to pay separate business income taxes

The business is not required to pay separate taxes on its income

Psychological satisfaction

The owner experiences a sense of fulfillment and contentment

Owner enjoys all the profits

The owner of the business receives all the profits

Easy to start up

The process of starting the business is simple


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