Question
what is a pro and con in sole proprietorship
Answers
GPT 3.5
One pro of a sole proprietorship is that it is easy and inexpensive to set up and maintain. Sole proprietors have full control over their business decisions and receive all the profits generated by the business.
One con of a sole proprietorship is that the owner has unlimited personal liability for the business debts and obligations. This means that if the business fails or faces a lawsuit, the owner's personal assets could be at risk. Additionally, sole proprietors may have difficulty raising capital for their business since they are limited to their own resources.
One con of a sole proprietorship is that the owner has unlimited personal liability for the business debts and obligations. This means that if the business fails or faces a lawsuit, the owner's personal assets could be at risk. Additionally, sole proprietors may have difficulty raising capital for their business since they are limited to their own resources.