SOLE PROPRIETORSHIP
Hey Everyone, Happy New Week. This week shall
bring Good News for everyone of us in Jesus name- Amen. so let's get
started....
A Sole
Proprietorship may be defined as a business organisation established,
owned, financed and controlled by one person with the arms of making profit.
This form of business unit is one of the oldest type of business organisation
owned by individuals. In other words, it is a type of business unit in which
one person provide the capital, bear the risk and takes full responsibilities
of the business. For Example- Tailor, Carpenter etc.
Features/Aim of Sole Proprietorship:
* Owned, Managed and Controlled by One
Person.
* Owner bears all the risk alone.
* Capital used in forming and running the
business, comes from the Sole Owner.
* The motive of the formation of a business,
is to make profit.
Source of Capital for Sole Proprietorship:
# A Sole Proprietor can obtain capitals from his
personal savings, which can serve as Initial
