Definition -

Sole Proprietorship concern is owned by a single person with less compliance and cost. Liability in this concern is 100% owned by the proprietor. It's a very popular business formation in India when you starting a new business for the testing purpose.

Sole Proprietorship Need Minimum 1 Person for the Registration. The person called sole proprietor. a sole proprietor is the owner of the business. Sole Proprietor can be hired also someone to running their business as the employee but can not authorised signatory for the legal documents signing purpose.