Why Is Sole Proprietorship Form Of Business Surviving In Nigeria

QuestionsWhy Is Sole Proprietorship Form Of Business Surviving In Nigeria
Editorial Staff asked 2 years ago

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1 Answers
Segun answered 2 years ago

What an interesting question, but before we talk about the reason why sole proprietorship is a form of Business surviving in Nigeria, I will like to shed light on what sole proprietorship Business is. Sole proprietorship is a business own and controlled by private individual either a company or a limited liability partnership.
 
Sole proprietorship is a form of Business surviving in Nigeria because they have functional and tax advantages compare to other business entities, they have hundred percent control and ownership of the business, they own the whole profit of the business, Sale or transfer can take place at the decision of the business owner,
No corporate tax payments. All this are the things that make sole proprietorship form of business surviving in Nigeria.

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