Sole proprietorships offer limited personal liability, simplicity in operation, and unlimited access to resources.
One advantage of a sole proprietorship is limited personal liability, which means the owner's personal assets are protected in case of bankruptcy or lawsuits.
Unlike partnerships or corporations, sole proprietorships offer simplicity in terms of operation and decision-making as there is only one owner involved.
Moreover, unlimited access to resources can also be considered an advantage since the proprietor has full control over the business and its profits.
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