Sole Proprietorship

EXERCISE

(AACSB) Communication

Talk with a sole proprietor about his or her selected form of business ownership. Ask him or her which of the following dimensions (discussed in this section) were important in deciding to operate as a proprietor: setup costs and government regulations, control, profit sharing, income taxes, skills, continuity, and transferability, ability to obtain financing, and liability exposure. Write a report detailing what you learned from the business owner.