TYPES OF BUSINESSES - Pros & Cons Sole Proprietorship: Benefits 1. 2. Drawbacks 1. 2. General Partnership: Benefits 1. 2. Drawbacks 1. 2. Limited Partnership: Benefits 1. Drawbacks 1. Private Limited Company: Benefits 1. 2. Drawbacks 1. 2. Public Limited Company: Benefits 1. 2. Drawbacks 1. 2.