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Explain what type of business would fall under a sole proprietorship?
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11 votes
11 votes
Explain what type of business would fall under a sole proprietorship?

User DizzyDoo
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19 votes
19 votes

Answer:

A sole proprietorship is an unincorporated business with only one owner who pays personal income tax on profits earned. Sole proprietorships are easy to establish and dismantle, due to a lack of government involvement, making them popular with small business owners and contractors. Examples of sole proprietors include small businesses such as, a local grocery store, a local clothes store, an artist, freelance writer, IT consultant, freelance graphic designer, etc.

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User Atavio
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