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Business strategy
Disadvantages of sole proprietorship
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[QUOTE="funmi, post: 210114, member: 38880"] When someone is operating a sole proprietorship business which is managed and controlled by the owner or the inventor, it is usually interesting at the beginning because you will see your self doing almost everything. But the long run, you will discover that it is not all that simple and easy. Some dicisions that you may be making for the business may not be the best decisions at all. If you make the right decisions and it worked out fine, the honour will be to you alone and if you do other wise, and it failed, then the owner will bear the loss alone. The only way out for a sole proprietor is to always seek advice of other people that has been in business before them or study very well before starting the business in the first place. If a sole proprietor fail, they will always find it difficult to stand back on their feet because they have no partner to surport the business since they have enjoyed the profit alone. [/QUOTE]
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