A sole proprietor business is established, owned, financed and controlled by a single person who is known as sole trader or sole proprietor. Such a business run by sole trader or sole proprietor is known as sole trade or sole proprietorship. Some of the advantages of sole proprietorship are:- 1. Easy to Form 2. Effort-Reward Relationship 3. Full Control 4. [...]
Everything you need to know about the characteristics of company. A company is a voluntary association of persons, recognised by law, having a distinctive name, a common seal, formed to carry on business for profit, with capital divisible into transferable shares, limited liability, a corporate body and perpetual succession. An existing company means a company formed and registered under any [...]
Everything you need to know about the key differences between sole proprietorship and partnership. Difference between Sole Proprietorship and Partnership Difference - Sole Proprietorship: i. Members- It is owned by one man. ii. Agreement- In sole proprietary form of organization, there is no need of any agreement, as the ownership is in the hands of only one person. iii. Coordination- [...]