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What do you understand by sole proprietorship in business?
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[QUOTE="Lens1000, post: 337533, member: 37726"] 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. [/QUOTE]
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What do you understand by sole proprietorship in business?
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