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image (Advantages ((1) Beginning is easy. (unlike other (business…
Sole traders,
individual
proprietorship,
type of enterprise
owned &
run by
one person
& no legal
distinction between
owner & business
entity.
Advantages
(1) Beginning is easy.
unlike other
business structure
requires less
paper work
& time
to legal
sole proprietorship.
(2) It is cheap
start a s
ole proprietors
hip.
other business structures
increased fees
& filings
to open
business,
tend to
affordable models
to start
and maintain.
(3) some
tax benefits
sole proprietorship
Instead business
to file
own tax return,
claim businesses
gains & losses
own individual
tax return
Advantages
(5) Owners
complete &
direct control
over all
decision-making.
Because
owner is
business,
owner makes
all decisions
for business.
(4) Can employ
others & grow
business.
can hire others
& enjoy
tax benefits
from doing so.
