A sole proprietorship (otherwise called individual business, sole dealer, or essentially proprietorship) is a sort of business that is possessed and administered by one individual. For a Sole Proprietorship business, enrollment isn't needed as it is distinguished through substitute enlistments, like GST enlistments and Labour license/Shop & establishment license. Be that as it may, its liability is limitless and it additionally doesn't have a ceaseless presence. The effortlessness of a sole proprietorship makes this type of business structure very well known among independent ventures, consultants, and other independently employed people

Benefits of Sole Proprietorship

  • Simple
  • Least expensive
  • Easy to start with
  • Minimal legal compliances