Sole Proprietorship: Definition, Advantages, and Legal Considerations
A sole proprietorship is the simplest and most common form of business ownership, where a single individual owns and operates the business. This structure offers full control to the owner but also carries unlimited personal liability. Sole proprietorships are widely used by small businesses, freelancers, and independent contractors due to their ease of setup and minimal regulatory requirements. This article explores the key characteristics, benefits, and challenges of sole proprietorships, along with legal and tax considerations.… Read more