One person owns the
business.
74% of all American Businesses; 6% of all American Sales
Receipts
Advantages
- Easy to form and dissolve.
- Owner keeps all profit.
- Flexibility & Secrecy.
- Tax simple (File a "Schedule C.")
Disadvantages
- Unlimited liability.
- Lack of continuity.
- Limited ability to borrow.
- Limited skills and knowledge.