Give two benefits of a sole proprietorship.
1. Ease of Formation: Sole proprietorships are one of the simplest business structures to set up. There is minimal paperwork and legal requirements involved in establishing a sole proprietorship, making it a quick and easy process for individuals looking to start their own business.
2. Full Control: As the sole owner of the business, a sole proprietor has complete control over all decision-making processes. They have the freedom to make decisions regarding the operations, finances, and direction of the business without having to consult with others. This level of autonomy can lead to more agile and efficient decision-making processes.