Sole Proprietorship : Demerits and Limitations

Definition of Sole Proprietorship

Sole Proprietorship definition according to Prof Hynes

Sole Proprietorship is that form of business which has a single owner, who has the total responsibility of the business, who runs the business and also bears the risk on the failure of business.

Despite high mortality the sole entrepreneur survives.

In the words of Dr. John A Shubin

Under the Sole Trader-ship Business, a single man is an organizer; he is the owner and runs the business by his own name.

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