Posts by tag: sole proprietorship

Why is sole proprietorship popular in West Africa?

Sole proprietorship is a popular business structure in West Africa mainly due to its simplicity and flexibility. It is the most straightforward form of business to set up, as there is no need to register the business or pay setup fees. Additionally, the owner has full control over the business and is not required to share any profits with partners or other owners. Moreover, sole proprietorship offers a range of tax advantages and the ability to quickly adapt to changing market conditions. This structure is also attractive due to its low startup costs and the ability for the owner to remain anonymous. Thus, it is no surprise that sole proprietorship is the most popular form of business in West Africa.