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Starting a business can be a challenging and rewarding experience. If you're considering taking the entrepreneurial leap, it's important to know the benefits and drawbacks of your business structure. In this video, we explore the world of sole proprietorships and give you everything you need to know to start your business journey. From the financial responsibility, to the potential lack of work-life balance, we cover it all to help you make an informed decision. Get ready to embark on your business adventure and achieve success! Timecodes 0:00 - Intro 0:42 - Intro: Advantages 1:00 - Advantages: Low-Cost 1:24 - Advantages: Control & Flexibility 2:01 - Advantages: Taxes 3:07 - Advantages: Profit 3:36 - Advantages: Privacy & Security 4:06 - Advantages: Personal fulfillment 4:16 - Intro: Disadvantages 4:37 - Disadvantages: Unlimited Liability 5:24 - Disadvantages: Lack of Professionalism 5:40 - Disadvantages: No Work-Life Balance 6:11 - Disadvantages: Hard to Secure Funding 6:37 - Conclusion