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Business strategy
Disadvantages of sole proprietorship
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[QUOTE="Good-Guy, post: 210020, member: 29109"] I think that there are many advantages and disadvantages associated with almost everything in the business world. If sole proprietorship has disadvantages, then I am sure that there must be disadvantages associated with the partnership-based business also. Apart from capital issue, I think one of the biggest disadvantage of sole-proprietorship business is that a single person's decision might not provide solutions to problems faced by business until or unless a person is too talented. Two people might be able to provide better opinion because the minds of two people are at work in a partnership-based. business. However, if a single person is exceptionally smart, then he or she might not need a second person. Two people might also be able to handle business flexibly as compared to a single individual. If one person is not available, then the other one might be able to handle and this is something that a single person in a sole proprietorship-based firm cannot do. A single owner must rely on his or her employees to do the job and even carry out big and important business operations on the orders of the owner. These were some of the big drawback of starting business as a single individual. [/QUOTE]
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