Sole Proprietorship

One person owns the business.
74% of all American Businesses; 6% of all American Sales Receipts

Advantages
  1. Easy to form and dissolve.
  2. Owner keeps all profit.
  3. Flexibility & Secrecy.
  4. Tax simple (File a "Schedule C.")

Disadvantages

  1. Unlimited liability.
  2. Lack of continuity.
  3. Limited ability to borrow.
  4. Limited skills and knowledge.