Business Term of the Day By Tijjani Ahmad. Sole proprietorship.... Simplest, oldest, and most common form of business ownership in which only one individual acquires all the benefits and risks of running an enterprise. In a sole-proprietorship there is no legal distinction between the assets and liabilities of a business and those of its owner. It is by far the most popular business structure for startups because of its ease of formation, least record keeping, minimal regulatory controls, and avoidance of double taxation. Usage Example: Setting up a sole proprietorship is the easy and quick way to setup a business, but may not be the best structure for your operation. Source: businessdictionary
Posted on: Tue, 23 Sep 2014 17:47:13 +0000
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