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.

Continue reading

Sole Proprietorship : Advantages, Merits and Importance

One man’s business is best in the world, if that one man is big enough to manage everything.

Meaning of Sole Proprietorship

Sole trader-ship (proprietorship) is that form of business organisation whose owner is just one person, who is called the sole trader. This person invests capital in the business, and is solely responsible for all the profits and losses of the business. The same personals the manager and organizer of the business.

Advantages, Merits and Importance of Sole Proprietorship

Following are the merits (or importance) of the sole proprietorship system
Continue reading

Sole Proprietorship : Definition and Its Characteristics

Introduction to Sole Proprietorship

Sole trader-ship or proprietorship is the oldest form of business in all the countries of the world. Along with the progress of business its form has also been changing. But due to its simplicity, quick formation and easiness, this form is the most popular and in practice in the world.

One man’s business is best in the world, if that one man is big enough to manage everything.

Continue reading