Inspite a lot of difference, there is a close inter relation between business, profession and employment. A large business enterprise employs a large number of persons in order to achieve its objectives. It also requires the services of professional experts such as chartered accountants, lawyers, architects, cost accountants, etc.Modern business has become very complex.Trained and experienced managers and other experts are rquired for efficient business operations. Professionals and other employees provide necessary manpower for efficient running of business concerns.Thus, business, profession and employment are complementary to one another.
Sole Proprietorship is a popular form of business organization and it is the most suitable form of organization for small businesses. It is one of the oldest, simplest, and common form of business organization. Sole proprietorship form of business is established, financed, owned, and managed by a single person who is known as, Sole Trader or Sole Proprietor . The sole trader bears all the risks and he alone is responsible for all the profit and losses of his business. He may borrow funds and employ people to help him but the ultimate authority and responsibility lie in his hands. Therefore, Sole trader business is a one-man show. Definition of Sole Proprietorship by L.H. Haney The individual proprietorship is the form of business organization at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure. Definition by B.O. Wheeler The sole ...
A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business.
ReplyDeleteOnline Sole Proprietorship firm Registration | Online Sole Proprietorship Registration
A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business.
ReplyDeleteOnline Sole Proprietorship firm Registration | Online Sole Proprietorship Registration