TOZZIBLINKZ
VIP Contributor
We all are familiar on who is sole proprietor is , to be more explanation on who is sole proprietor is , I will personally consider him or her to be an individual that one's a particular business possibly of any kind all by himself and without the help of any other individual . It is important that we become aware that just as a sole proprietor and just the prophet in his or her business he or she also must bear the losses . One of the common challenges and obstruction faced by sole proprietors possibly in developing countries of west Africa is the increase in the cost of facilitating and running business activities . In a situation like this , what is best advised for a sole proprietor to do ? Well there are some certain measures and strategies that can cut down the risk and unbearable condition of high cost of facilitating and running business for a sole proprietor . The act of ploughing back profit is actually one of the oldest ways of handling increasing cost of facilitating and running business activities , but yet it could still be in use today as a way to still facilitate and run business activities .
Another thing a sole proprietor must endeavour to do in a condition when cost of facilitating and running business activities increases is to the business activity of warehousing . At least practicing warehousing will enable the business owner to buy goods and store them for future sales in this way he could save him or herself from buying the goods in costly prices .
Another thing a sole proprietor must endeavour to do in a condition when cost of facilitating and running business activities increases is to the business activity of warehousing . At least practicing warehousing will enable the business owner to buy goods and store them for future sales in this way he could save him or herself from buying the goods in costly prices .