- owner entitled to the whole profit
- decision-making concluded faster
- knowledge of all aspects of the business
- safe guard of property is more efficient
- full responsibility of all duties
- limited ideas
- biased conceptualisation
- obligated to whole debt
- unlimited liability
Advantages of the one man business are given below:
1. Owner of the business entitled to the whole profit.
2. It includes the fast decision making.
3. Knowledge of all aspects of the business
4. It includes the safeguard of property and it is more efficient.
Disadvantages of the one man business are given below:
1. It has the full responsibility for all duties.
2. It has the limited ideas.
3. Unlimited liability.