BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Sole proprietorships are the simplest form of business structure and are easy and cheap to start due to few government rules. Proprietors enjoy full control and profits from the business but incur unlimited legal liability personally.

Detailed explanation-2: -A sole proprietorship is the easiest and simplest form of business ownership. It is owned by one person. There is no distinction between the person and the business. The owner shares in the business’s profits and losses.

Detailed explanation-3: -Sole proprietorships are easy to establish As long as you’re the owner and in charge of operations, there’s no need to formally register your business or notify federal or state offices. The only fees involved are those needed to register your business name, and to attain the appropriate licenses and permits.

Detailed explanation-4: -Minimal paperwork and low set-up costs are two major benefits of having a sole proprietorship. In addition, there is the ease of maintaining it. In fact, according to the SBA, it’s the simplest and least expensive business type you can establish.

Detailed explanation-5: -A sole proprietorship is best suited to small businesses with low risk and low profits.