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As an expert in various industries, I would like to shed some light on the major differences between a company and sole proprietorship. While both are business structures, they differ in several aspects that can have a significant impact on the success and growth of a business.

Firstly, a sole proprietorship is a business structure where an individual owns and operates the business. This means that the owner is solely responsible for all the business operations, debts, and liabilities. On the other hand, a company is a separate legal entity that is owned by shareholders. The company is responsible for its own debts and liabilities, and the shareholders’ liability is limited to their investment in the company.

Secondly, a sole proprietorship has limited resources and is often limited to the skills and abilities of the owner. This means that the business may struggle to grow beyond a certain point. In contrast, a company can raise capital by issuing shares, which can be used to invest in the business and expand its operations.

Thirdly, a company has a more complex organizational structure than a sole proprietorship. A company has a board of directors, officers, and shareholders, each with their own roles and responsibilities. This structure allows for better decision-making and accountability, which can lead to better business outcomes.

Lastly, a company has a longer lifespan than a sole proprietorship. A sole proprietorship is tied to the life of the owner, and the business may cease to exist if the owner passes away or retires. A company, on the other hand, can continue to exist even if the shareholders or directors change.

In conclusion, the major differences between a company and sole proprietorship are ownership, liability, resources, organizational structure, and lifespan. As a business owner, it is important to understand these differences and choose the business structure that best suits your needs and goals.

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