Chapter

4.1. Going It Alone: Sole Proprietorships*

From IntroductionToBusiness OP 8D04gAa

Concepts

1. How do businesses choose an appropriate form of ownership?

   "Will you attract employees? How will the business be taxed, and who will be liable for the company’s debts? If you choose to share ownership with others, how much operating control would they want, a

2. What are the advantages of operating as a sole proprietorship?

   "Jeremy Shepherd was working full-time for an airline when, at the age of 22, he wandered into an exotic pearl market in China, searching for a gift for his girlfriend. The strand of pearls he handpic

3. What are the disadvantages of sole proprietorships?

   "Along with the freedom to operate the business as they wish, sole proprietors face several disadvantages: Unlimited liability. From a legal standpoint, the sole proprietor and the company are one and

4. How does work-life balance affect small business owners and their employees?

   "According to a survey released by the Wells Fargo/Gallup Small Business Index, about two-thirds of small business owners are satisfied with how they balance their personal lives and work schedules, a