Advantages Disadvantages You’re the sole owner, make all the decisions & take home all the profits. The business is reliant solely on you. You can claim business losses on your personal taxes. There may be a lack of continuity. You require minimal working capital & start-up costs are low. Raising capital is a struggle. Regulations are limited; making it’s easy to start. There is unlimited liability. It may be harder to sell. Taxes will increase as income grows.

Advantages Disadvantages There is a broader management base. Possibility of conflicts in the business partnership. Enjoy additional sources of capital. Divided authority could delay crucial business decisions. Partners bring complimentary talents. There may be a lack of continuity. Your start-up costs are low. Raising capital is a struggle. Regulations are limited; making it’s easy to start. There are smaller profits per share. There is unlimited liability.

Advantages Disadvantages There is continual existence. It is expensive to set up. Ownership can be transferred. It’s closely regulated. Has its own specialized management. It requires extensive record keeping. There is limited liability. Personal guarantees can undermine limited liabilities. Is a separate legal entity. There is shareholder liability. It’s easier to raise capital. Dividend taxation is the norm. Enjoy tax advantages & exemptions for capital gains.