Sole Proprietorship Definition - Business Communication Words
An unincorporated business that is owned and managed by one person. In some cases a husband/wife combination is still considered a sole proprietorship, though otherwise more than one is considered a partnership.
"I run a small restaurant as a sole proprietorship as I don't feel I need the liability protections offered by incorporation."
"Most small businesses are sole proprietorships."
"My wife and I formed our craft business as a sole proprietorship."
"As a sole proprietorship, your personal finance is the same as your business in terms of taxation. "
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Business Terms #5
- Service Mark
- Sole Proprietorship
- Venture Capital