Types of OrganizationLevel of Control of OwnerDefine Main FeaturesAdvantagesDisadvantagesSole Trader or Proprietorshipfull controlcontrols everything in the companymake own decisionlittle capitalunincorporated (owner is legally the same as the business)easy to operatefaster decision makingavoid double taxationbeing your bossprivacytaking drawings instead of wagessmaller and easy to set uphands on approachpersonalized servicelimited financingunlimited liabilitybusiness assets and personal assets are at riskslack of knowledge in specific arealack of
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