The advantages of having sole proprietorship

see below

Explanation:

A sole proprietorship is a business establishment owned and managed by one person. The owner assumes all the responsibilities of running the business successfully.

The advantages of a sole proprietorship include

1. Ease of starting the business. Only a business registration certificate and a trading license from the local authorities are required to start operations.

2. Owner is the boss: Operating a sole proprietorship makes one his or her own boss. They get to make all the business decisions without the need to consult anyone.

3. Simple taxation: In a sole proprietorship, the business income is treated as the owner's income for taxation purposes. When the owner files income tax returns for themselves, the business will have also paid its.

4. Owner keeps all the profits. In a sole proprietorship business, the owner does not share profits with anyone.

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