Exploring Business: "Section 4.2: Sole Proprietorship"

Many new business owners choose the sole proprietorship because it is the easiest form to initiate and provides the most control since only one person makes the decisions (for good or ill).

Read section 4.2 in the Exploring Business resource. Pay particular attention to the discussion on unlimited liability as this is a major drawback for sole proprietorships. It might be interesting to try the exercise at the end of the section and find a sole proprietor in your area.