John A Shubin

Sole Proprietorship : Demerits and Limitations

  • by

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.

Read More »Sole Proprietorship : Demerits and Limitations

Proprietorship : Definition and Its Characteristics

Introduction to Sole Proprietorship

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 the 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.

Read More »Proprietorship : Definition and Its Characteristics