Fountain of Youth Clothing will assume sole proprietorship business. Why? As a sole proprietorship I can own and manage the business myself and be responsible for all business transactions.
- Advantages- 1. I have complete control and decision-making power over the business, 2. No corporate taxes -YAY, 3. few formal business requirements, 4. Does not cost as much to form a sole proprietorship
- One of the disadvantages to having a sole proprietorship investors may not want to invest because of the risk.
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