Give two down sides of a sole proprietorship.
1. Unlimited personal liability: In a sole proprietorship, the owner is personally responsible for all business debts and liabilities. This means that if the business fails or is sued, the owner's personal assets, such as their home or savings, could be at risk.
2. Limited access to capital: Sole proprietors may have difficulty obtaining financing or investment capital for their business, as lenders and investors may be hesitant to provide funding to businesses with a single owner. This can make it challenging for sole proprietors to expand their business or take advantage of growth opportunities.