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Meaning of sole proprietorship

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Meaning of sole proprietorship

Posted by Sonu Sonu 6 years, 4 months ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 6 years, 4 months ago

A Sole proprietorship can be explained as a kind of business or an organization that is owned, controlled and operated by a single individual who is the sole beneficiary of all profits or loss, and responsible for all risks. It is a popular kind of business, especially suitable for small business at least for its initial years of operation. This type of businesses is usually a specialized service such as hair salons, beauty parlors, or small retail shops.

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