Advantages Or Strengths Of Sole Proprietorship Business

Advantages:-

Sole proprietorship has following advantages:-

1. It is easy and simple to establish. A single person establishes and also runs the business.
2. The owner receives all the profit (also losses) of the business.
3. Less organizational cost is required to initiate the business.
4. The tax is imposed on the income of the business as the individual income. It needs not pay corporate income tax, since an individual and business are not legally different in it.
5. There is secrecy in it.
6. The dissolution is easier in it.
7. The government makes less regulation.
8. It receives the advantages of small business.
9. The decisions can be made promptly.
10. It has flexibility to change according to the market environment since the owner himself manages the business.