Basic Features of Sole Proprietorship

Sunday, January 15, 2017


A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.

Features:
1.     One man business
2.     Profits not shared
3.     Losses not shared
4.     Division of labour is impossible
5.     Very less capital
6.     Decisions are quick but hasty
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