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Sole proprietorships are making up about 75 percent of all business firms. Has to raise the capital or borrow the money to get the business started. The owner has to be responsible for all the decisions that are made for the business. There is unlimited liability.
There are many advantages to sole proprietorships. The owner is able to have complete control and decision making power over the business, there is no going to someone else to get them to understand or agree to your ideas for the company. Any sales or transfers are taking place at the discretion of the proprietor. The owner of a sole proprietorship does not have to pay any corporate tax payments...
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