what is sole proprietorship?
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what is sole proprietorship?
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A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.
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A sᴏʟᴇ ᴘʀᴏᴘʀɪᴇᴛᴏʀsʜɪᴘ, ᴀʟsᴏ ᴋɴᴏᴡɴ ᴀs ᴛʜᴇ sᴏʟᴇ ᴛʀᴀᴅᴇʀ, ɪɴᴅɪᴠɪᴅᴜᴀʟ ᴇɴᴛʀᴇᴘʀᴇɴᴇᴜʀsʜɪᴘ ᴏʀ ᴘʀᴏᴘʀɪᴇᴛᴏʀsʜɪᴘ, ɪs ᴀ ᴛʏᴘᴇ ᴏғ ᴇɴᴛᴇʀᴘʀɪsᴇ ᴛʜᴀᴛ ɪs ᴏᴡɴᴇᴅ ᴀɴᴅ ʀᴜɴ ʙʏ ᴏɴᴇ ᴘᴇʀsᴏɴ ᴀɴᴅ ɪɴ ᴡʜɪᴄʜ ᴛʜᴇʀᴇ ɪs ɴᴏ ʟᴇɢᴀʟ ᴅɪsᴛɪɴᴄᴛɪᴏɴ ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ ᴏᴡɴᴇʀ ᴀɴᴅ ᴛʜᴇ ʙᴜsɪɴᴇss ᴇɴᴛɪᴛʏ.
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