Proprietorship is the easiest form of business in which an individual introduces his own capital, uses his own skill and intelligence in the management of its affairs and is solely responsible for the result of its operation. It is easy to start a business but it is not a legal entity. Proprietorship business can only be registered by tax registrations or other business registrations.
Benefits of Proprietorship
- Easy Formation
- Full Control
- Direct Motivation
- Secrecy
- Simple Dissolution