sole proprietorships
Single-owner business structures
Sole proprietorships is the plural of sole proprietorship, a business owned and operated by a single person.
Unlike corporations or partnerships, there's no legal distinction between the owner and the business—the proprietor receives all profits but bears all liabilities personally.
Most small businesses start as sole proprietorships because they're simple to establish: She ran her consulting practice as a sole proprietorship for years before incorporating.
- going soloActing without partners
- unincorporatedNot legally chartered
- self-employedWorking independently, not hired
- side hustleSecondary income venture
- entrepreneurshipCreating and managing ventures
small business · ownership · business · doing business as · trade name · Schedule C · tax return · management · enterprise · profits · individual · revenues · independent · permits · tax filing · autonomy · startups · simplicity
sole proprietorshipscorporations
Legally incorporated business entities
multinational corporations · partnerships · conglomerates · public companies · LLCs
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