MANAGEMENT

Detailed explanation-1: -Naming your business You can trade under your own name, or you can choose another name for your business. You do not need to register your name. You must include your name and business name (if you have one) on official paperwork, for example invoices and letters.

Detailed explanation-2: -Unincorporated businesses like sole traders and general partnerships have limited protection with regard to their chosen business name. Whether they are using their own given name(s) or a trading name, anyone else can set up a business and trade under the same name(s).

Detailed explanation-3: -The good news is that it’s absolutely fine to do so – sole traders can have two (or even more!) businesses. A sole trader setup is the simplest business structure. It means that you run your business as an individual, and any profits after tax are yours to keep.

Detailed explanation-4: -As a sole proprietor, by default, the legal name of your business is your own name. But you can choose to operate the business under another name, known as a “fictitious business name” or “doing business as” (DBA). Most states require you to file an application for your DBA.