For this discussion, you will need to talk to someone who is a sole proprietor. Ask what factors were the most important: setup costs, government regulations, control, profit sharing, income taxes, skills continuity and transferability, ability to obtain financing, and liability exposure. How long did it take them to decide which form of business was best? Do they have any regrets? What has been the most worthwhile?

After your interview (of sorts) share your discussion with the class. Be sure to give us some background of the individual and the business. What did you take away from the conversation? Do you think they made the best decision based on what you have learned from the chapter material? Why or why not? Would you have done anything differently. What are some cons to this form of business for your individual?