Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. Home Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the World Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines sole proprietors and operators of home based businesses and attempts to find out whether they should continue as sole proprietorships, incorporate, or form a partnership. The author suggests that home businesses should always consult with a lawyer prior to making any …
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showed last 75 words of 411 total
…business plan. Examples of when a sole proprietor might consider changing business structures would be if the service or product provided lends itself to a potential lawsuit or there is a possibility of not being able to deliver goods or services as promised. The thought of potentially going public or selling the firm within a five to ten year period are other scenarios where a business owner may need to look beyond a sole proprietorship.