Simple explanation of sole proprietorship

                   Sole Proprietorship

      A sole proprietorship is the simplest form of business. It is owned, managed, and controlled by one single person.

✔ Simple Meaning

      A business run by one person is called a sole proprietorship.

✔ Key Features

       Single owner – one person invests the money and runs the business.

       Easy to start – no complicated legal procedures.

      Owner gets all the profit – but also bears all losses.

      Common in small shops like tea stalls, grocery, stores, tailoring shops, mobile repair shops, etc.

✔ Example

    A small kirana shop run by one person in your area is a sole proprietorship.