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A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. visit page: jeevanweddingarts .in/
Individual accounting is related to record of any sole trader .
The trader himself, tax man and the bank
A sole proprietorship is not a separate legal entity for tax purposes. An individual who operates a sole proprietorship claims all his revenues and expenses on a schedule C on his personal tax return.
yes however all the income and profits is all yours you are just eligible of paying income tax.
legal responsibilities
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
advantages of a sole trader
a sole trader has a limited liability. :)
Yes body shop is a sole trader.
Lord Sugar is a famous sole trader in the UK.
Sole proprietor
A sole trader can employ as may people as is necessary
the characterististics of a sole trader are: -unlimited liablitity -only one person controls the business which is called the sole trader - financial infomration is only visible for the owner of the business - the sole trader can keep all profit made by the business - it is a unicorporated business
it is not easy for a sole trader to get a loan so easily as the business is new and the bank ownt know if the sole trader will be able to repay the loan.