Liability: One of the main drawbacks of being a sole proprietor is that you will be personally responsible for all business obligations.
Liability: One of the main drawbacks of being a sole proprietor is that you will be personally responsible for all business obligations. There is no separation between the owner's and the business's assets.
If the assets of the business are insufficient to cover the debts of the business, personal liability permits creditors of the business to pursue your personal assets. In a similar vein, in order to pay off your personal debts, your creditors have the right to seize your company's assets.
To know more about Liability, visit:-
https://brainly.com/question/18484315
#SPJ4
