What is an advantage of operating as a sole proprietorship?

Operating as a sole proprietorship offers the advantage of complete control and decision-making responsibility. As the sole owner of the business, you have the autonomy to make all important decisions without the need for consultation or agreement from partners or shareholders. This structure allows for a streamlined decision-making process, enabling quick responses to market changes or business challenges. The proprietor can set the direction of the business, determine its strategic goals, and implement operational changes as needed, all of which can lead to a more agile and focused business operation.

This control is particularly advantageous for individuals who prefer to work independently and have a clear vision for their business without needing to compromise with others. It can also foster a sense of personal connection and responsibility to the business's success, which may drive the owner to work harder and be more dedicated.