What you know about Sole
Proprietorship
Sole
proprietorship – a
business in which a person responsible for managing all the business activity,
responsible for providing fund and bearing all the risk. It is also called
single man business or one person business.
 |
| Sole Proprietorship |
In these types of business a single
person is responsible for all the matters related with business.
Some feature/characteristics for these types of business –
ü
Own capital – these types of business start
only with own capital. That person manages all the capital from his own
resources for investment purpose.
ü
These
types of business have a small size
and a single person is responsibility for all the activity.
ü
Manage & control – the sole proprietorship manage
all the activity of business. A owner make all the decision & have a full
control over all the full activity.
ü
These
types of business have an unlimited
liability. Risk factor is really high in these types of business.
