Sole Proprietorship

Simplest, oldest, and most common form of business ownership in which only one individual acquires all the benefits and risks of running an enterprise. In a Sole Proprietorship there is no legal distinction between the assets and liabilities of a business and those of its owner. It is by far the most popular business structure for start-ups because of its ease of formation, least record keeping, minimal regulatory controls, and avoidance of double taxation.

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