What is a key advantage of a sole proprietorship?

A key advantage of a sole proprietorship is that it offers complete control to the owner, allowing for quick decision-making and the ability to implement changes without the need for consensus from partners or shareholders. Additionally, the simplicity of setup and minimal regulatory requirements make it an attractive option for many entrepreneurs. The owner also retains all profits, which can be a significant incentive for business growth. However, this structure does come with unlimited personal liability for debts and obligations of the business.