Sole Proprietor

A sole proprietorship is a proprietorship business that one person owns and manages. As the business and the owner are not legally separate, it is the simplest form of business structure. It is also known as individual entrepreneurship, sole trader, simply proprietorship, or sole proprietor. Sole Proprietorship registration is not the requirement by law.

• Easiest and cheapest way to start a business
• Very few government rules and laws
• Full management control
• Flow through business profit
   

• Formation and closure of business
• Unlimited liability
• No separate Legal Entity
• No sharing of profit & loss
• Risk Bearer
• Lack of business continuity
• Single ownership
   

The owner of sole proprietorship business is known as “sole proprietor” meaning single owner and the sole recipient of all profits and losses. It is suitable for enterprises that require personal attention, personalized services, and limited capital, such as Grocery Shops, beauty parlours, boutiques, etc.