Beyond the Sole Proprietorship. Home Office Computing

Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. Home Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the World Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines sole proprietors and operators of home based businesses and attempts to find out whether they should continue as sole proprietorships, incorporate, or form a partnership. The author suggests that home businesses should always consult with a lawyer prior to making any …

…business plan. Examples of when a sole proprietor might consider changing business structures would be if the service or product provided lends itself to a potential lawsuit or there is a possibility of not being able to deliver goods or services as promised. The thought of potentially going public or selling the firm within a five to ten year period are other scenarios where a business owner may need to look beyond a sole proprietorship.