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Limited life in a sole proprietorship means that the business's existence is closely tied to the owner. If the owner decides to close the business, retires, or passes away, the sole proprietorship ceases to exist. This lack of continuity can affect the business's stability and long-term planning, as it cannot be easily transferred or inherited like a corporation. Consequently, the business's lifespan is directly linked to the owner's personal circumstances.

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1w ago

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