Sole Proprietorship
May 30, 2016
The Sole Proprietorship
A sole proprietorship, also known as a sole trader or simply a proprietorship, is the simplest and most common structure chosen to start a business. The sole proprietorship is not a legal entity, it just refers to a person who owns the business and is personally responsible for its debts. In other words, there is no legal distinction between the owner and the business. It…