Question

Meaning of sole proprietorship in business administration

Answer 1

Sole proprietorship in business mainly stands for the business which is owned and managed by an individual who is the alone recipient of all profits and bearer of all loss

Answer 2

A sole proprietorship is basically an unincorporated business owned and run by one individual (no partners are involved), with no distinction between the business and its owner. ... It is also a simple structure to maintain with few forms and little business administration needed.