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advantages and disadvantages of sole proprietorship and partnership business.
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[QUOTE="Mika, post: 267459, member: 29399"] A sole proprietorship business means you are the only owner of the business, When you are the only owner, you have full control over your business, every penny you make is yours, and every decision you make is yours. However, this comes as a great disadvantage because you bear the entire losses, you invest the entire money, and you take all risks. You also run the business alone and you do not have any helping hand if you want to get someone to help you need to hire a paid staff. Partnership business is thought to be very risky because every disagreement between the partners will ruin the business entirely. The partners also always strife to take control of decision-making. The advantages include, you have someone to bear the risk, you have someone to help you to run and manage the business, and you also have someone to invest in the business. [/QUOTE]
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