What is Sole proprietorship?
A '''Sole Proprietorship''' is a type of unincorporated [[business]] owned by a single person sand not registered as a [[corporation]]. Its profits, debts and [[tax]]es are all the financial responsibility of the sole person who is the owner. The owner pays personal [[income tax]] on [[profit]]s earned from the business and is solely responsible for all [[debt]]s of the business. This means that if they have financial problems it is possible for them to lose their own money or even their house. {{stub}} [[Category:Business]]