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A business run by one person is typically referred to as a sole proprietorship. In this structure, the owner has complete control over the operations and decision-making processes, but they are also personally liable for any debts or legal issues that arise. This type of business is often easier and less expensive to set up compared to other business entities, making it a popular choice for freelancers and small entrepreneurs. However, the owner must be prepared to manage all aspects of the business, from finances to marketing.

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1d ago

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