Advantages of running a sole proprietorship business

Advantages of running a sole proprietorship business.  (10mks)

1. It is easy to form because only a trading license required to start a sole proprietorship
2. Quick decision making due to lack of consultation
3. They are flexible since one can easily adapt to the changes in the market due to quick decision making.
4. The owner enjoy all profits because there is no sharing
5. The owner is able to maintain business secrets which enhances confidentiality
6. The owner is able to offer personalized services to the customers due to personal contact
7. The sole trader is accountable to himself/herself and thus he/she enjoyed freedom and prestige

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