Advantage and Disadvantage of Sole Proprietorship
Advantage of Sole Proprietorship
- High supervision of employees
- Income motivate owner
- Sole trade mostly skilled in the business as good for competition
- Low bureaucracy as less time wasted
Disadvantages of Sole Proprietorship
- Short economic life consequently does not attract long-term finance, hence, limited growth and expansion.
- Boundless liability
- Success depends on capability or judgment of owner