{"id":24375,"date":"2015-02-20T05:54:50","date_gmt":"2015-02-20T05:54:50","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=24375"},"modified":"2024-04-03T13:15:30","modified_gmt":"2024-04-03T07:45:30","slug":"business-strategy-sole-proprietorship","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/business-strategy-sole-proprietorship\/","title":{"rendered":"Business Strategy : SOLE PROPRIETORSHIP"},"content":{"rendered":"

\"Business<\/a><\/p>\n

\n

A Business is an economic activity\u00a0to create Wealth\u00a0& Profits\u00a0by distribution\u00a0of\u00a0Services and Goods.<\/strong><\/p>\n<\/blockquote>\n

Since the business strategy includes very wide activities; Therefore the business activity divided into two categories ‘Industry’ and ‘Commerce’. Industrial activity will subject to involved in production of goods and manufacturing, while Commerce encompasses the domain of services offered in business.<\/p>\n

One of oldest form of business is Sole Proprietorship. ‘Sole’ term signifies individualist that ensures business is being owned, control and managed by an individual.\u00a0\u00a0It have several advantages and disadvantages to be understood. But majorly proprietorship is being an entrepreneurship, needed innovation and risk as a characteristic quality to lead in business activity.<\/p>\n

The ease of Proprietorship is being a very popular in term of easiest business structure formation as Solely owned profits and incorporate little small business administration needed. It will be very less cumbersome to did not share a reports to partners, stock holders and board members.<\/p>\n

CHARACTERISTICS\u00a0<\/span><\/p>\n

i. Single Ownership<\/p>\n

ii. No sharing of Profit and Loss<\/p>\n

iii. One-man\u2019s Capital<\/p>\n

iv. One-man Control<\/p>\n

v. Unlimited Liability<\/p>\n

vi. Less legal formalities<\/p>\n

\u00a0\u00a0ADVANTAGES \u00a0 \u00a0<\/span><\/p>\n