A sole proprietorship (also called a self-employed person) is a business that is owned and operated by one person. This is the simplest and cheapest business structure. By running your business as a freelancer, you can fully control and manage your business. You are legally responsible for all aspects of your business.
The company's advantages include personal liability protection, security and business continuity, and easier access to capital. The company's shortcomings include delay, double taxation, and the need to follow strict procedures and agreements.
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