The first advantage is that the entire business is owned by the owner in case of sole proprietorship. Therefore, all the profits do not need to be shared but are completely gained by the owner. Business taxes of the corporate category are not required to be paid by sole proprietors (Clarkson, Miller & Cross, 2016). The flow of income is through the individual who is the owner of a sole proprietorship. There can be opportunities for being flexible in case of running a sole proprietorship. This is because there is no one to dictate or dominate the sole proprietor to run the business in a particular manner.