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[Josemendez]

Start up businesses have different ways to begin such as partnership, sole proprietorship,e.t.c .
People most times prefer to use sole proprietorship because it makes them the sole boss of the bussines and offers them opportunity to enjoy the profit alone but there are challenges involved in it such as bearing the risk and debts alone , financing the bussines alone .
Do you think that the benefits of sole proprietorship out weighs the cons of it ?

 

[Brain]

Yes,the pros outweigh the cons. The most outstanding pros for me is the quick decision and having all the profits time your self. A business needs some quick decision making and taking which is what can be enjoyed adequately as a sole proprietor.

 

[Josemendez]

Yes,the pros outweigh the cons. The most outstanding pros for me is the quick decision and having all the profits time your self. A business needs some quick decision making and taking which is what can be enjoyed adequately as a sole proprietor.

Indeed the decision making is a good aspect for sole proprietorship but what do you think about the fact that it risks and dent is neared by one person which can be very demanding.

 

[Brain]

Indeed the decision making is a good aspect for sole proprietorship but what do you think about the fact that it risks and dent is neared by one person which can be very demanding.

Yes the risks and losses is borne by one person same as the profit is all taken by one person. With the risks it can be salvage on time since decision will be taken fast on what to do but if the business was owned by many people waiting for others to know about before taking steps that will limit more risks might be impossible leading to more risks borne by the business.

 

[Josemendez]

Yes the risks and losses is borne by one person same as the profit is all taken by one person. With the risks it can be salvage on time since decision will be taken fast on what to do but if the business was owned by many people waiting for others to know about before taking steps that will limit more risks might be impossible leading to more risks borne by the business.

Hmm. I think you have a solid point there . Waiting for a collective decision can delay or affect the bussines. Also there may be disagreements in some situation.

 

[Brain]

Hmm. I think you have a solid point there . Waiting for a collective decision can delay or affect the bussines. Also there may be disagreements in some situation.

This is the worse scenerio when it comes to handling a business.without swift or quick intervention of any situation it can totally wreck a business but with a sole proprietor you see any pending Doom of your business,you arrest it immediately without waiting for any consultation.

 

[SCAMEXPOSER]

No doubt sole proprietorship is the best option cos you will earn the profit alone also the decision making process too however, to succeed in it is not an easy task but with adequate knowledge about the business, funding and your ability to consult when necessary will make you succeed.

 

[Mbwolf]

in my opinion I think it's all depends on the startup or the project. if the startup is easy and need one person only it will be good if he works alone but if the startup is big he can't make alone he sure need a team

 

[Rassy011]

Sole proprietorship is definitely good for start up business, if the business grows bigger it might be nice to consider partnership to further increase the business profit and limit risks borne as it will now be shared by the partners

 

[Josemendez]

Sole proprietorship is definitely good for start up business, if the business grows bigger it might be nice to consider partnership to further increase the business profit and limit risks borne as it will now be shared by the partners

Yea but the only challenge I still see in it , and I want you to look at , is the task of getting the fund alone , bearing the burdens of a new business alone , and of course the loss experienced if the business didn't make it to the market .
Though the reverse is the case if the business succeeds .

 

[Rassy011]

Yea but the only challenge I still see in it , and I want you to look at , is the task of getting the fund alone , bearing the burdens of a new business alone , and of course the loss experienced if the business didn't make it to the market .
Though the reverse is the case if the business succeeds .

The points you listed at part of the cons of sole proprietorship but it's still the easiest way to own a start up business and with the most minimal risks associated with owning a business

 

[SCAMEXPOSER]

Sole proprietorship is definitely good for start up business, if the business grows bigger it might be nice to consider partnership to further increase the business profit and limit risks borne as it will now be shared by the partners

If your business has grown bigger successfully partnership won't be a way forward rather you look for Investors to buy shares in your business while you pay dividends as stipulated

 

[Rassy011]

If your business has grown bigger successfully partnership won't be a way forward rather you look for Investors to buy shares in your business while you pay dividends as stipulated

To me that's still partnership because you no longer own all the profits alone and at the same time you don't bear the risk alone

 

[Josemendez]

The points you listed at part of the cons of sole proprietorship but it's still the easiest way to own a start up business and with the most minimal risks associated with owning a business

Yea that true though .

 

[SCAMEXPOSER]

To me that's still partnership because you no longer own all the profits alone and at the same time you don't bear the risk alone

To a greater extent it is still sole proprietorship because you still take decision because the investors are mostly concerned with the dividends and not how you make your profit unlike partnership that you share decision making, also profit or losses as the case maybe.

 

[a_jerobon]

I think sole proprietorship is the best for me. This is because I have not thought about a big business that requires a large fund to start and so opt for partnership. Also, I like the advantages that come with sole proprietorship: being my own boss and enjoying all the profits.

 

[Balint098]

Self owning your business is a good start for most entrepreneurs. You can get much more than money, but also experience and soft skills like time management, stress management, decision making and more.

 

[SCAMEXPOSER]

Self owning your business is a good start for most entrepreneurs. You can get much more than money, but also experience and soft skills like time management, stress management, decision making and more.

Yeah it is far better because the mind we will be at rest no depression as regards someone on loan to start business. You can take reasonable risk to explore with out much fear.

 

[SCAMEXPOSER]

sole proprietorship is the best for me when going into business. So that i will bear the risk alone and also grow my business alone..it cool been boss of one self

A very good one if you have the money require to start the business effectively because a bad begining could make a business fail after a while.

 

[SCAMEXPOSER]

Sole proprietorship for a small scale busineses is the best because the risk is minimal like the profit isn't much but if you can manage it well, you will expand in the long run.