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Advantages of sole proprietorship.

Answer Text:
Advantages of sole proprietorship.
1. The capital required to start the business is small hence anybody who can spare small amounts of money can start one.
2. Few formal/legal procedures are required to set up this business.
3. A sole proprietor is able to assess the credit-worthiness of his or her customers because of close personal relationship.
4. The trader is accountable to him/herself.
5. A sole trader is able to keep the top secrets of the business operations.
6. He/she enjoys all the profit.
7. A sole proprietorship is flexible.