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The appropriateness of different types of business ownership
What factors influence the choice of business ownership?
Factors influencing the choice of business ownership include the level of control desired, the need for capital, liability considerations, taxation implications, ease of formation and dissolution, and the long-term goals and aspirations of the business owner(s).
When is sole proprietorship an appropriate ownership structure?
Sole proprietorship is an appropriate ownership structure for small businesses with a single owner who wants full control over decision-making and assumes unlimited personal liability for the business's debts and obligations.
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