Owning Your Own Business Essay -- Essays Papers

Owning Your Own Business There are some(prenominal) advantages and disadvantages when causeing your testify business. When you admit you own business, its known as a sole proprietary. But with any type of business, there will perpetu on the wholey be advantages and disadvantages. Five advantages for owning your own business are 1) The proprietor receives all profits, meaning that all earnings go to the sole proprietor, or the owner, and isnt shared with any maven else. The profit is not split among partners, or split among a corporation. So when you own your own business, youre the first and only one that receives all earnings and profit. So if a person has a sure-fire firm, he/she is the first to reap the success and rewards. 2) An early(a) advantage of owning your own business is that youre your own boss. You can set your own hours, reconcile what you want to do with the company, no manager to answer to. Basically, youre in charge of everything. The owner solely makes all decisions. Or in other words, youre running the show. 3) An additional advantage is that a sole proprietorship can be easily organized. Its easy to start your own business. First of all, it costs very little money to start your own business. As a sole proprietor, you have minimal legal requirements. The owner doesnt have to establish a separate legal entity. whole that is needed is to register the company with the state and apply for an occupational licence and any additional licenses required for the state. ...