What is a sole proprietorship?

Learn what a sole proprietorship is, how it operates as a business structure, and its advantages and disadvantages for entrepreneurs.

What is a sole proprietorship?
Levi May-01-2023 09:30:40
Viewed 338 times

1 Answer

1
A sole proprietorship is a type of business structure in which a single individual owns and operates the entire business. The owner of the business is solely responsible for the profits, losses, liabilities, and taxes associated with the business. As the sole proprietor, the owner has the right to make all decisions and is typically the only one personally liable for any financial obligations of the business.
avatar
Aaliyah
10 Ques 1 Ans
answered 22 Aug 2023

Your Answer

undraw-questions

Login or Create Account to answer this question.

Do you have any opinion about What is a sole proprietorship??

Login / Signup

Answers Adda Q&A communities are different.
Here's how

bubble
Knowledge sharing.

Question and answer communities are a great way to share knowledge. People can ask questions about any topic they're curious about, and other members of the community can provide answers based on their knowledge and expertise.

vote
Engagement and connection

These communities offer a way to engage with like-minded individuals who share similar interests. Members can connect with each other through shared experiences, knowledge, and advice, building relationships that extend beyond just answering questions..

check
Community building.

Answers Adda Question & Answer communities provide a platform for individuals to connect with like-minded people who share similar interests. This can help to build a sense of community and foster relationships among members.