Introduction to Business

Introduction to Business

Sole Proprietorship

It refers to a company owned by the same owner who personally manages, receives all the profits and is personally responsible for its obligations. This form of organization is characterized above all for small business (agriculture, construction industry, retail). The benefits of individual holdings include ease of establishment and liquidation, the possibility of independent conduct of business and management of the profits, which is concentrated in the same hands. This means that an employer runs the risk not only the assets of the company, but also personal property (Howard & Upton, 2003). Limited financial resources found ...