3. It’s harder to sell your business. Since a sole proprietorship is attached to an individual by nature, it’s all but impossible to sell or hand down your business to someone else. Therefore.. A wide range of businesses operates as sole proprietorships, reflecting the versatility of this business structure. Here are some real-world examples: 1. Independent Contractors and Freelancers. Freelance writers, photographers, graphic designers, and other independent contractors often operate as sole proprietors.
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Tutors. Another popular example of sole proprietorship is tutoring. Tutors provide after-school help for students of all ages, and typically work by themselves. In addition, tutors are often paid in cash, so you’ll want to make sure you establish an effective bookkeeping practice—and don’t forget that the IRS can audit you (or any small.. A sole proprietorship in business is an unincorporated business structure. Anyone who operates a business is a sole proprietor until they incorporate a company. There is no distinction between the business and the owner with this structure. This business structure is an easy option for entrepreneurs. Many single entrepreneurs choose to operate.
