own all your business's profits and assets.
-You may be limited in how long you can stay away from the business (i.e. less holidays). Similarly, if you become sick or have an accident your business may stop operating.
-You pay tax on profits at your marginal tax rate, which may be higher than the company tax rate.
-You need to put money aside to pay tax; otherwise, you may have cashflow problems at tax time.
-Few tax concessions are available.
-The business structure limits opportunities for expansion.