The 4 Disadvantages of A Sole Proprietorship

DISADVANTAGES 
1. Unlimited  Liability.  The  Sole  owner's  personal  assets,  such  as  home,  personal    property,  cars  and  investments,  are  liable  to  be  seized  if  necessary  to  pay  for    outstanding  debts  or  liabilities.  As  mentioned  earlier,  the  proprietor  and  the    business  are  deemed  to  be  one  and  the  same  in  law.  
2. Less  Financing  Capacity.  It  is  more  difficult  for  a  sole  proprietor  to  borrow  money    than  for  a  partnership  with  various  partners  or  a  corporation  with  a  number  of    major  shareholders.  A  lessor,  when  looking  for  security  and  evidence  of  outside resources,  can  turn  to  other  people  connected  with  the  business  rather  than  just  one  person  in  a  proprietorship.  A partnership  or  corporation  can  give  an  investor  some  form  of  equity  position,  which  is  not  available  in  a  proprietorship.  
3. Unstable  Duration  of  Business.  The business  might  be  crippled  or  terminated    upon  the  illness  or  death  of  the  owner.  If there  is  no  one  appropriate  to  take    over  the  business,  it  may  have  to  be  sold  or  liquidated.  Such  an  unplanned    action  may  result  in  a  loss.  
4. Sole  Decision-Making.  In  partnerships  or  corporations,  generally  there  is   shared  decision-making  or  at  least  input.  In  a  proprietorship,  just  one  person  is  involved,  and  if  that  person  lacks  business  ability  or  experience,  poor  decision  making  can  cause  the  business  to  suffer. 
5.  Taxation.   At   a   certain   level   of   profit,   there   are   disadvantages   for   the   sole    proprietor.  

These advantages and disadvantages can be different with each situation. That is why all business owners should seek legal advice when making decisions on correct structure for your business.
But for all your financial needs let us help you get your business "In The Zone."
Since Business Finance Consultants have the ability to work with hundreds of lender programs nationwide they can offer you more options than you may have thought possible. Also, because Business Finance Consultants access "wholesale money" they can provide the same programs that major banks offer and pass the savings on to you. It is also important to note that a Business Finance Consultant does not get paid unless they are successful in funding.
This means they will review your request and present it in a manner that poses the greatest probability of funding. As such, Business Finance Consultants have a tremendous motivation to ensure that there are no hidden costs or fees that other mortgage brokers often charge you at the last minute. By choosing to work with a Business Finance Consultant, you are working with the elite of the mortgage lending industry.