What is a Sole Proprietorship?
When a business is owned and governed by one person it is called a sole proprietorship company. This type of business can be started in 15 days and hence makes it one of the most popular kinds of business to begin in the unsystematic sector, specifically among merchants and small traders. For a sole proprietorship business, registrations are not required as they are identified by alternate registrations such as GST registrations. However, its liability is unlimited and it also doesn’t have a continuous presence.