organization

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 organization 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 person is the manager and organizer of the business.

Advantages, Merits, and Importance

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

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