What are the pros and cons about partnership firms and proprietor firms?
Hiii friend..... - In Partnership Business the ownership is shared with 2 or more persons and in sole proprietor only one owner. - These both are easy to form with less paper work and these both are not separate with that of owners i.e. not separate entity. - In sole proprietor decision can be taken by himself he has complete control, but in Partnership the decision must be supported by major partners to get in effect. - These both have unlimited liability for Business lawsuits, obligations and liability. - In sole proprietor capital is raised by only one but in partnership the capital is contributed by many. - The business continuity in case of proprietor ends when sole proprietor dies but it continues if any partner dies in case of partnership. And there are many pros and cons for these business types.