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