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A sole proprietor is an individual who owns and operates a business independently, without forming a separate legal entity like a corporation or partnership. This structure allows the owner to retain complete control over decision-making and profits, but it also means they are personally liable for all business debts and obligations. Sole proprietorships are typically easy to set up and require minimal regulatory compliance. This business model is common among freelancers, consultants, and small business owners.

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AnswerBot

1mo ago

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