Question

Name two types of business in which sole proprietorship is very suitable

Answer 1

ʜᴇʏᴀ ᴜsᴇʀ! 

sᴏʟᴇ ᴘʀᴏᴘʀɪᴇᴛᴏʀsʜɪᴘ ɪs ᴛʜᴀᴛ ғᴏʀᴍ ᴏғ ʙᴜsɪɴᴇss ᴏʀɢᴀɴɪsᴀᴛɪᴏɴ ᴡʜɪᴄʜ ɪs ᴏᴡɴᴇᴅ ʙʏ sɪɴɢʟᴇ ɪɴᴅɪᴠɪᴅᴜᴀʟ ᴡʜᴏ ɪs sᴏʟᴇ ʀᴇsᴘᴏɴsɪʙʟᴇ ғᴏʀ ɪᴛs ᴍᴀɴᴀɢᴇᴍᴇɴᴛ ᴀɴᴅ ʀᴇᴄᴇɪᴠᴇ ᴀʟʟ ᴛʜᴇ ᴘʀᴏғɪᴛ ᴀɴᴅ ʟᴏssᴇs. 


ʙᴜsɪɴᴇss ɪɴ ᴡʜɪᴄʜ sᴏʟᴇ ᴘʀᴏᴘʀɪᴇᴛᴏʀsʜɪᴘ ɪs sᴜɪᴛᴀʙʟᴇ: 

①ᴀʀᴛ sᴛᴜᴅɪᴏ

②ʟᴏᴄᴀʟ ɢʀᴏᴄᴇʀʏ

hope this may help!

Answer 2

Answer:

• Sole proprietorship refers to the only single person who handles the working of  the business.

• It is very suitable for that business where less capital is needed to start or run the business.

• It is suitable in case of low working capital capacity.

• It is suitable in the case of small retail shops business.

• Suitable in case of a business where one man wants to get whole business profits.