Give five advantages of sole proprietorship as a form of business unit
Answer:
-Ease of formation: this is the easiest form of business organization to establish.
-There are no complex forms to complete and no documentation required between you and
any other party.
-It involves registering your choice of business with the registrar of companies by filling in a simple form and paying a small registration fee.
- Easy to raise capital.
- Owner makes independent decisions: the business owner has complete control over the business is solely responsible for all decisions in the business.
-Owner has personal contact with employees and customers.
-Owner enjoys all the profits.
- Flexibility: the business owner is able to respond quickly to business needs in
day-to-day management decisions of the business. One can easily take advantage of an
attractive business opportunity.
-Total control of business
-There are no complex forms to complete and no documentation required between you and
any other party.
-It involves registering your choice of business with the registrar of companies by filling in a simple form and paying a small registration fee.
- Easy to raise capital.
- Owner makes independent decisions: the business owner has complete control over the business is solely responsible for all decisions in the business.
-Owner has personal contact with employees and customers.
-Owner enjoys all the profits.
- Flexibility: the business owner is able to respond quickly to business needs in
day-to-day management decisions of the business. One can easily take advantage of an
attractive business opportunity.
-Total control of business
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Define the following terms as used in entrepreneurship
(i) Intrapreneurship
(ii) Intrapreneur
(iii) Enterprise 
