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Sole proprietorship advantage

Question
What is the advantage of having a sole proprietorship? 
Answer
Since no one who has an idea for a business immediately files incorporation documents, virtually all businesses are born as a sole proprietorship, or the plural ownership version, a partnership.

Simplicity is the primary advantage to this business structure, and the reason 72.7 percent of all U.S. firms operate as sole proprietorships.

This form of business is most commonly used for sideline ventures, as evidenced by the fact that half of all sole proprietors earn salaries and wages from another job, along with their business income.

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Brain Trust contributor: Author of J.K. Lasser's Small Business Taxes 2007
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