Kiran is a sole proprietor. Over the past decade, her business has grown from operating a neighbourhood corner shop selling accessories such as artificial jewellery, bags, hair clips and nail art to a retail chain with three branches in the city. Although she looks after the  varied functions in all the branches, she is wondering whether she should form a company to better manage the business. She also has plans to open branches countrywide.

(a) Explain two benefits of remaining a sole proprietor
(b) Explain two benefits of converting to a joint stock company
(c) What role will her decision to go nationwide play in her choice of
form of the organisation?
(d) What legal formalities will she have to undergo to operate business
as a company?