If I have a chance to start up a new business, I will choose the sole proprietorship form. The risk management context for the sole proprietorship is easier this enhancing business continuity. However, in my opinion, the majority of the small-scale enterprises have utilized the form of single proprietorship.
The reasons why I would choose the form of the sole proprietorship include and not limited to the ease of management. The formation of the single proprietorship legal form of business is simple and enhances the aspect of decision making. The business forms with a complex structure such as a corporation may face complacency in the decision-making process. Organizations and companies weigh on definite opinions that may influence the decision-making process (Permwanichagun, Kaenmanee, Naipinit & Sakolnakorn, 2014).
It is therefore essential to consider starting up on the sole proprietorship form of business due to its ease of formation. I would also choose sole proprietorship due to the possession of authority. I do not have to attend formal meetings to enhance decision making. However, it is easier to change the business structure to a framework that fits the owner. Eventually, the business owner is the sole owner of the business profit and do not split.
A moment in life I felt cheated by a business organization. The aspect of discrimination was evident in service delivery and payments….
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