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Business strategy
Disadvantages of sole proprietorship
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[QUOTE="Stena, post: 221242, member: 67486"] A sole proprietorship is a business owned and run by just one person. Just as every business type has its disadvantages, the sole proprietorship has its own too. A sole proprietorship is likely to face financial challenge, in most cases, the funds to establish a business usually do not come by, and that is why some people venture into partnership. A sole proprietorship has lower chances of expansion, this is also attributed to unavailability of funds and help of teamwork. A sole proprietorship is most likely to fail or fold once its owner is dead. In a sole proprietorship, only the business owner bears the financial burden, risks, threats of the business. The decision of the sole proprietor if wrong is going to affect just him and the business. [/QUOTE]
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