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Question about sole proprietorships?
Why isn't more of the nation's output produced by sole proprietorships given that they are so numerous?
This question confused me. Is it because that they can't raise sufficient funds? Or they don't want to spend more money and just keep profit? Is it because of legal liabilties?
1 Answer
- megLv 710 years agoFavorite Answer
If you have significant wealth it is better to register as an LLC or an s corp because your personal asset are protected form business losses or law suits so most sole proprietorships are very small and do not generate enough profits to make their owners wealthy
