Accounts & Finance

A sole proprietorship is a business run by one individual for his or her own benefit. While it's the simplest form of organization, there are also inherent dangers with such an entity as liabilities associated to that company will be your personal responsibility and if you're killed in a car crash while driving on corporate time then the entire corporation crumbles. You alone assume risks related to this type of personality driven enterprise but ownership does not come without its perks - Sole Proprietorships have no existence apart from their owners so they can make all decisions personally and quickly which gives them incredible agility when compared against larger corporations who rely heavily upon bureaucratic processes designed specifically to protect interests at-large instead of individuals within those groups.