A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor’s.
The Richtopian Vision
Join Our Newsletter
- 3,150,140 all-time readers
- Green for Go: The Rise in Veganism and Changes in Consumer Consciousness
- Growing Responsibly: A New Way Forward for Coca-Cola
- The New Queen of Jewellery: An Interview With Alyssa Smith
- 11 Amazing Examples of Disruptive Technology
- Why These Big Brands Chose the Colours of Their Logos
- 10 Things FinTech Has Done for International Remittance
- 5 Techniques to Grow Your Business Like Warren Buffett
- 17 Great Examples of Effective Leadership and Strategy
- What Is Social Marketing? And How Does It Work?
Women in Leadership
- Did You Know That the Richest ‘Self-Made’ Woman Earns $91,324 Per-Hour? September 22, 2019