Lee wants to go into the business of architectural design. Among the reasons that might convince Lee to set up his business as a sole proprietorship would be

Question

Lee wants to go into the business of architectural design. Among the reasons that might convince Lee to set up his business as a sole proprietorship would be​

Quizplus · Accepted Answer

A sole proprietorship offers greater organizational flexibility because the owner has complete control over the business and can make decisions without having to consult any partners or shareholders. This allows the owner to be more responsive to changes in the market and customer needs without having to go through a lengthy decision-making process. However, it does not offer limited liability, perpetual existence or ease of transferring the business to other family members, which are potential advantages of other business structures such as corporations or partnerships.

Lee Wants to Go into the Business of Architectural Design