Sole Proprietorship
A __________ is a business owned and operated by a single individual.
A __SOLE_PROPRIETORSHIP______ is a business owned and operated by a single individual.
Miss Bev runs a small cook shop by herself. She buys ingredients, cooks the meals, and serves customers.
What type of business ownership does Miss Bev have?
Sole proprietor
Who makes all the decisions in a sole proprietorship?
Owner
List one example of a sole proprietor business in Jamaica.
shop etc.
Which is most likely to be a sole proprietorship? (write the letter)
A small business with one location
A business with locations across the country
A franchise
A company that trades on the stock market
A
Imagine you want to start your own small business.
What kind of business would it be?
any feasible answer Shoes shop
a business owned and operated by __________
one person
Miss Bev runs a small cook shop by herself. She buys ingredients, cooks the meals, and serves customers.
Give one advantage and one disadvantage of this type of business.
easy to start
bills is on one person
True or False: A sole proprietor shares profits with a partner.
false
Explain why many people in Jamaica choose to start a sole proprietorship.