A sole ownership is a business owned and operated by one individual. The owner has unlimited liability for the debts and obligations of the business but is entitled to all profits and losses from it.
If you’re considering starting a new business or have an existing one that needs some streamlining, the first thing to consider is choosing a business structure that best fits your operations.
Generally, there are a few factors that will help you make a decision. You should consider all the variables and how they will impact your choice.