Business Studies, asked by Criz7150, 1 month ago

What is sole trader ? Discuss the future of such a firm of business organisation in india

Answers

Answered by Anonymous
1

Explanation:

A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity

Answered by Jasleen0599
0

Sole trader

  • A sole proprietor is a person who operates a business only for his or her personal benefit. In addition to owning the company's capital, he or she typically organises, manages, and bears full responsibility for all profits or losses.
  • Any business that is owned and run by one person, even if they do hire staff, is referred to as a lone trader. Specialty service providers like plumbers, hairdressers, and photographers are frequently sole proprietors.
  • A sole proprietorship, also known as a sole trader or a proprietorship, is an unincorporated business with only one owner who is responsible for paying personal income tax on the company's profits.

The future of such a firm of business organisation in india

  • India has a large market for sole proprietorships due to the country's massive agricultural population. Numerous small businesses that are heavily dependent on agriculture exist. Even in villages, there are a lot of small businesses and industrial facilities.
  • The sole proprietor is in charge of running the entire company. He creates the plans and supervises their execution himself. When making judgments, he is not compelled to consult anyone else. The proprietor has the final say in management and control.

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