Business: Sole Proprietorship

An individual business owner company is a company owned and managed by one person. The only ownership is greater than any other type of company (Lau, 2011). This is a simple business setting, it is easy to quit. The owner can freely decide on business hours, services or products offered, business location, and contracts that can be signed without consultation with the counterparty. However, we assume full responsibility if it is fully managed.

i) Only ownership - the most common structure of new business. With independent ownership, the company and operator are the same for legal authorities and tax authorities. Individual employer's income and expenses are accounted for together with other individual income and expenses you may have. Iii) Established corporation - The company can register at the state or federal level. Within all three business structure types, this is the most demanding of regular archives and documents that must be maintained. It is the most expensive business structure that the business starts and continues to operate as a result of the general law, accounting, and filing costs incurred when operating a registrant.

A sole proprietor, also called a sole proprietor or individual business owner, is a non-corporate enterprise with a single owner who pays personal income tax on the income derived from the company. Individual employers are popular among individual dealers, consultants or owners of small businesses, as private business owners are the most direct business establishment or demolition due to poor government regulation. There is no separation between a single ownership and the entity and its owner. Therefore, it is different from a company or a limited partnership union in that a separate corporation is not created. Therefore, the owner of a single ownership right can not be exempted from the entity's responsibility. For example, the debt of a sole proprietor is also the owner's debt. However, all profits will flow directly to the owner of the sole proprietor