Merits of sole proprietorship

khushal By khushal, 19th Oct 2014 | Follow this author | RSS Feed
Posted in Wikinut>Business>Accounting & Finance

1 Easy Establishment : it is stated above that a sole proprietor can start the business with small amount of capital and few legal formalities.

Merits of sole proprietorship

1 Easy Establishment : it is stated above that a sole proprietor can start the business with small amount of capital and few legal formalities.
2 Free Nature: the sole proprietor is the owner of the business. Therefore, he is free to change the nature and scope of his business activities in any situation.
3 Quick decision : sole proprietorship Facilitates fast decision making the sole proprietor can takes quick decision for his business activities and to control them.
4 Customer satisfaction: the sole proprietor can make personal relation with his customers and try to satisfy them.
5 Minimum legal formalities: The sole proprietorship firm is related to the minimum government regulations. The sole proprietor has to face income tax sales tax labour laws and other general law in the business.

Tags

Business, Sole Proprietorship

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author avatar khushal
i am working of business department and i am perfect in business

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author avatar tafmona
20th Oct 2014 (#)

very useful to business minded people

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author avatar khushal
20th Oct 2014 (#)

thanks

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