Sole proprietorship is a form of business is the owner of the business when is owned by only one person.

This form organisation is also known as individual entrepreneurship.

Sole proprietorship is a form of business organisation in which an individual invests his own capital, uses his own skill and intelligence in the management of its affairs and solely responsible for the resultes of its operaction.

1. 2. 3. 4. 5. 6.

Sole ownership; One - man control; Unlimited risk; Undivided risk; No Separate entity of the firm; No government regulations.

1. 2. 3. 4. 5. 6. 7.

Easy and simple formation; Smooth management; Promptness in decision-making; Direct motivation and incentive to work; Personal touch with customers; Secrecy; Social advantages;

1. 2. 3. 4.

Limited financial resources; Limited managerial ability; Unlimited liability; Lack of continuity;

In spite of the above limitation, this form of business organisation occupies a prominent place in the business world. In advanced countries and in developing economies like India. It is playing an important role .