ENTREPRENEURSHIP

Detailed explanation-1: -A sole proprietorship-also referred to as a sole trader or a proprietorship-is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business. Many sole proprietors do business under their own names because creating a separate business or trade name isn’t necessary.

Detailed explanation-2: -In the eyes of legal and tax authorities, the business and the operator are one and the same. A sole proprietorship is a business owned by an individual. A sole proprietor works for themselves rather than being employed by a company and takes on all legal and financial responsibilities for the business.