Discuss the various forms of business organisations with their respective merits and demerits.

1. Sole proprietorship

The vast majority of small businesses start out as sole proprietorships. These businesses are owned by one person, usually, the individual who has day-to-day responsibility for running the business. Sole proprietors can be independent contractors, freelancers or home-based businesses.

Sole proprietorship advantages :

• Owner receives all the profits
• Profits are taxed only once
• Owner makes all decisions and is in complete control of the company (could also be a disadvantage)
• Easiest and least expensive form of ownership to organize

Sole proprietorship disadvantages :

• Unlimited liability if anything happens in the business. Your personal assets are at ______ ___ _______ _________ __________ ________ _____.
  _______ _____ ___ ______ _____ ______ _________ ____.
  ______ _________ _________ ___ _____ _________ ____ ________ _______ _______ _________ ______.
  _________ ___ __________ ________ ____ __________ __________ __________ __________ _____ __________ __________.
  _________ _______ __________ _____ _______ ________ _____ ____ _______ _____.
  __________ __________ ____ _____ ____.
  __________ _________ ______ _________ ______ ____.
  _______ ______ _________ ________ _______ ________ _________ ______ _____.
  ___ _______ __________ ______ _____ _____ _______ __________ ________ _______.
  ____ _____ _________ _________ _________ ___ _____ _______ __________.
  _________ _________ __________ _____ _______ _________ ____ _____.
  ____ ________ __________ _____ _____ ________ ___ ____ ______.
  ______ _______ ____ _____ ___ _____ _________ _______.
  ____ ______ __________ ___ _________ _______ __________.
  ____ ____ ____ _______ _____.
  _______ __________ ___ ______ ______ _____ _______ ________.
  ___ _____ _____ ______ __________ ___ ________ _________.
  ________ _______ __________ _____ __________ ________.
  ___ ______ _______ __________ ________ ______ ____ ______ ______ ___.
  ________ _______ ________ ____ ________.
  ______ __________ _________ _______ ______ ________ ______.
  _____ ___ _______ ____ _____ __________ _____ ___ __________ __________ ______ ______.
  __________ ________ ______ _____ _____ ________ _________.
  __________ _________ __________ ___ _____ ___ __________.
  _______ ________ __________ _________ _____ ____ ___ _________ _______ __________ __________ ______.
  ________ ________ __________ ___ _________ _____ _______ ___ _____ ______ ____ _________.
  ___ _______ __________ ___ _________ ______ ____ _________ ______.
  ______ _______ ______ ______ ____ _______ ______ ______ __________.
  ________ _____ ____ ______ _____ ___ ______ _______ ________ ____ __________ _______.
  ______ ________ ______ ________ _______ ___ __________ _____ _________ ________ ______.
  ________ ___ _____ ___ ________ ____ ____ ___.
  __________ ______ _______ _________ ________ __________ ________ _________ _________ _____.
  ______ ____ ______ ________ _____ _________ _______ ____ ____ _________ ___.
  ___ ______ ________ _________ _________ ________ ________ _____.
  _______ _____ __________ _________ _________ ____ ________ _____.
  ________ _____ _____ ___ ______ _________ _________ ____ ___ __________ ______.
  ________ ____ _______ ______ ___ __________ _____ _______.
  ___ ________ ____ _______ ______ __________ __________ _________ ______ ______ ___.
  _____ _______ _____ _______ ________ ______ _______ _________.
  __________ _____ _________ ________ ____ ____ ___ ______ ______ ______.
  __________ _____ ______ ______ __________ ______ ________ ______ ________ _________ _________.
  _______ ______ __________ ______ _______ __________ _____ _______ _____ ____ ___ _______.
  ______ ______ __________ ____ _____.
  ____ _______ ___ ________ _______ _______ ________ ______ ______ _______.
  ________ _________ _____ _________ _________ ________ _____ _________ ________ ___ _________.
  ______ _____ __________ _______ _________ __________ _________ ___ ________ _____ _________ _____.
  ____ _____ _______ ________ _________ ______ ___ _____.
  _____ _______ _____ ______ ____ _________ ________ _____.
  _______ ________ ______ _______ __________ __________ ____ __________ ____ ___ ___.
  _______ _______ ________ ___ __________ ___ __________ _______ ________ _______ _______ ______.
  ______ _______ __________ __________ __________ ___ __________ _________.
  _______ ___ _________ _____ _____ ____ _____ _____ ____ _____ ________.
  _________ __________ ______ ______ _________ __________ ____.
  ___ _______ ______ _______ ____.
  __________ _____ ____ _______ __________ ______.
  ____ _______ _________ ___ ____ __________ __________.
  ___ _____ ____ _________ _________ _________ ____ ____ _________ _______ _________.
  ____ ___ ___ ___ _________.
  Get Full Answer on WhatsApp