Lens1000
VIP Contributor
The sole proprietorship is a type of business where the business is managed and also owned by a single individual. It is important to note that in a sole proprietorship, there is no legal distinction existing between both the business and the owner and this means that the owner has a full control and he is also responsible for all aspect of the business . The sole proprietorship is the simplest form of business that you can establish and it's often favor individuals that are starting a small business due to the fact that it is very easy to set up and it also has a minimal regulatory requirements.