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Business strategy
Disadvantages of sole proprietorship
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[QUOTE="Richee84, post: 209725, member: 42448"] Sole proprietorship is usuall called a one man business as it is own by one man and usually the most common form of business. It is very easy to setup as the initial capital for it start-up is usuall very small. This form of business also has it own disadvantages which are listed below; Because of the nature of the business it usually don't have easy access to financial loan compare to other form of business. Death of the owner of the business can affect the business and the continuity of the business. The business tend to die with the owner and the ideology about the business is totally lost as the ideology is carry by one man. Decision making is usually very fast and at times can be wrong and misleading. When only one person carry out a decision it can tend not to ba accurate compare to when group of people reason togetherto take decision. [/QUOTE]
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