That might be true in the US, but in other jurisdictions a sole-trader or partnership can also attract lower tax rates on the disposal of assets or the whole bu

That might be true in the US, but in other jurisdictions a sole-trader or partnership can also attract lower tax rates on the disposal of assets or the whole business including 'good will'. In the UK this could probably get entrepreneurs relief as well, taking it down to 10%. Speak to a tax accountant of course.