Business ENewsletter February 3 2011

Sole Proprietorship Basics
Many sole proprietors may not even realize that, legally, they are designated as such. Because of the simplicity of a sole proprietorship, individuals can operate their businesses with little administration or legal formality. A sole proprietorship is a business that is owned by one person who reaps all the benefits and is responsible for all the losses and obligations of the business. An overview of the benefits and risks of a sole proprietorship follows.