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It is a significant element for the advancement of business. A sole broker can without much of a stretch keep up with the mystery about the methods of creation and benefit.
Social Benefits It is useful in taking care of numerous social issues like joblessness and so on Drawbacks OF SOLE PROPRIETORSHIP
The drawbacks of sole ownership can be described as under:
Progression The progression of sole ownership relies on the wellbeing and life of the proprietor. On the off chance that of death of the proprietor the business does not go on anymore.
Chances of Fraud Insole ownership, legitimate records are not kept up with. This builds the possibilities of blunders and fakes for deceptive specialists.
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Extension Difficulty Insole ownership, it is extremely challenging to grow the business as a result of the restricted existence of
owner and restricted capital.
Absence of Advertisement As the wellsprings of a single individual are restricted so he can’t bear the cost of promotion, which is likewise a significant inconvenience.
Absence of Capital, For the most part, small-time assets are restricted, so because of monetary issues, he can’t extend his business.
Absence of Inspection and Audit Insole ownership there is the absence of examination and review, which expands the possibilities of
misrepresentation and unlawful tasks.
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