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A sole proprietorship is a business that is owned by a single entity. Some examples include body shops, restaurants, seamstress shops, and other retail establishments. Other examples include service industries such as insurance agents, and skilled trades.

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Q: What are some examples of sole proprietorship?
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A sole proprietorship is a business that is owned solely. In the Philippines examples of sole proprietorship include shops, boutiques, and catering businesses.


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Partnerships can not be converted to Sole proprietorship.


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The owner of a sole proprietorship has unlimited liability.


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How can you use sole proprietorship in a sentence?

You can use sole proprietorship in a sentence in various ways. Here is an example, "In a sole proprietorship, you are solely responsible for the business operations."


What liability does the owner of a sole proprietorship have?

No. A sole proprietorship means that the owner of the business does not have an entity that limits some potential liabilities. A sole proprietor is conducting business in his own name (or possibly under an assumed name, which does not add any protection).


Who controls a sole proprietorship?

The owner controls a sole proprietorship. By its definition, a sole proprietorship is ran by a single individual who wishes to operate alone or who has only a small business.


What is a Sole Proprietorship Firm?

Want to register your sole proprietorship firm? Get your sole proprietorship company registration today from best company registration consultants. Click here to know all about the sole proprietorship firm, its benefits, documents required, and the process.