Sole Proprietor Ship

A sole proprietorship is the simplest form of business structure, owned and run by a single individual. There’s no legal distinction between the owner and the business, meaning the owner is personally liable for all business debts and obligations (unlimited liability). It’s easy to set up with minimal legal formalities and offers complete control and direct access to all profits. However, it can be challenging to raise capital, and the business’s existence is tied directly to the owner.