Tuesday, December 13, 2011

Sole Proprietorship vs. Partnership

A sole proprietorship has more advantages than a partnership. A sole proprietorship has more advantages because its run by only one person. When one person runs a business, that person has a great amount advantages due to he/she authority. They make their own decisions on how to run a business, they take in all profits, and its easy to create. In a partnership these advantages are gone as everything has to be shared between the partners.
I think sole proprietorships are so popular because they are easy to create. With a sole proprietorship theres no "middle man," you are doing everything on your own which makes them easy to create and therefore popular. With a partnership both partners have to be on the same page about everything for it to be started.

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