What are the disadvantages of single proprietorship?

Single proprietorships face several disadvantages, including unlimited personal liability, meaning the owner is personally responsible for all debts and legal issues. This structure can also limit access to capital, as funding options are typically more restricted compared to corporations. Additionally, the burden of decision-making falls solely on the owner, which can lead to stress and challenges in managing the business effectively. Lastly, single proprietorships may struggle with continuity, as the business can be significantly affected by the owner's absence or incapacity.