penelope worked for several years at an art gallery after graduating college. she had always imagined she…

penelope worked for several years at an art gallery after graduating college. she had always imagined she would own her own studio one day, where she could showcase her own works as well as provide private art lessons and classes. she had saved money toward this goal but had little experience running any type of business. based on penelopes situation, which of the following is a disadvantage of her becoming a sole proprietor? penelope may have difficulty managing all aspects of a small business alone. penelope has few contacts she could use to obtain start - up funding. penelope is worried about who will be responsible for making final business decisions. penelope lacks significant expertise and experience in the art field.

penelope worked for several years at an art gallery after graduating college. she had always imagined she would own her own studio one day, where she could showcase her own works as well as provide private art lessons and classes. she had saved money toward this goal but had little experience running any type of business. based on penelopes situation, which of the following is a disadvantage of her becoming a sole proprietor? penelope may have difficulty managing all aspects of a small business alone. penelope has few contacts she could use to obtain start - up funding. penelope is worried about who will be responsible for making final business decisions. penelope lacks significant expertise and experience in the art field.

Answer

Brief Explanations:

As a sole proprietor, Penelope will be solely responsible for all aspects of the business. Given her lack of business - running experience, managing everything alone can be challenging. There is no indication of her contact - related issues for funding, and in a sole proprietorship, she is the one making final decisions which is not a new worry. Also, she has worked in an art gallery, so she has art - field experience.

Answer:

Penelope may have difficulty managing all aspects of a small business alone.