Each of the three business forms has certain advantages and disadvantages as summarized here. Sole Proprietorship Partnership
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Each of the three business forms has certain advantages and disadvantages as summarized here.
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Sole Proprietorship Partnership Advantages Easy to set up All profits go to owner Owner has total control • Few regulations to follow • Easy to start • Skills and talents are pooled • More money available . Disadvantages • Limited expertise • Hard to raise money • Owner has all the risks Hard to attract talented employees . Conflicts between partners . • Profits must be shared • Owners share all risks
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