what is SOLE PROPRIETORSHIP? Explain with examples.
Sole
proprietorship is a form of business enterprise in which an individual own the
business, assumes all risks and operates the firm for his own personal
interest. Sole proprietor here is the sole owner, manager, controller,
financier and risk bearer. He wears many hats, of financial planning,
marketing, development, business strategies and risks.
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| sole proprietorship |
Also explain with examples
The
individual runs the business alone though he may obtain the assistance of paid
employees. The sole trader ship is very popular with small scale business such
as: tailoring, hair dressing, retailers, accounting, legal profession etc etc.
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