SOLE PROPRIETORSHIP

Sole proprietorship, sometimes simply known as ‘proprietorship’, is a company that has one owner and whose business is unincorporated. The sole proprietor therefore pays a personal income tax from the revenues of his or her business. Sole Proprietorship is considered as one of the simplest business to set up and take part in as it has also warrants limited government regulation compared to other types of businesses. It is popular among business owners and self contractors.