lists reasons why most companies in the world start out and remains sole proprietorships?

how does being a sole proprietorships benefit or limit a company’s ability to become involved in international business?

Asked by: erlin 618 days ago - 2 Answers - 1342 views

2 Answers

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I can’t speak as to how a business would benefit internationally as a sole proprietorship, laws are different for each country and may classify businesses differently as well. I imagine the pros and cons would be similar internationally, but that is not my expertise.

In the US, the advantages of a sole proprietorship are it’s easier to start and manage, low state and federal fees, low legal fees, avoidance of double taxation, and the owner maintains as much control as desired.

The disadvantages include difficulty in raising funds and the potential for the owner to lose personal assets if the business tanks. The business is legally tied directly to the owners financials, so if the business cannot payoff debts, the owner suffers directly.

Answer by Rick 618 days ago
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thankz rick and i dnt have a twitter acount lol

Answer by erlin 617 days ago

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