There are downsides to a sole proprietorship, and they are big ones. Here are two major drawbacks that you should be aware of:Being the sole owner, you are entitled to all the profits. The downside is that you are also held responsible for all of your business debts, liabilities, and losses. Your personal assets are vulnerable and can be put at risk in the event of a business bankruptcy or if a lawsuit is brought against your company.
Being the only one minding the business can be stressful.