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Sole Proprietorship

Introduction

LEARNING OBJECTIVE

  1. Describe the sole proprietorship form of organization, and specify its advantages and disadvantages.

A sole proprietorship is a business owned by only one person. The most common form of ownership, it accounts for about 72 percent of all U.S. businesses. It's the easiest and cheapest type of business to form: if you're using your own name as the name of your business, you just need a license to get started, and once you’re in business, you’re subject to few government regulations.


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