What Is A Sole Proprietorship?
A sole proprietorship is an unincorporated organisation with just one owner who is responsible for paying personal income tax on earnings generated from trading.
A sole proprietorship is the simplest form of business to start or shut down.
As a result, these undertakings are extremely popular among single-person companies, self-contractors, and consultants.
Because establishing a separate business or trade name isn’t required, many sole proprietors operate under their own names or in some cases as “trading as” business names.
The proprietor is the owner of the company, and it has no existence apart from him/her.