SubjectPaid lesson
Sole Proprietorship
CT
ClassNotes Team 6 MIN READUPDATED 13 JUN 2026Commerce SSS1 Third Term
WEEK 7
Sole Proprietorship
Performance Objectives
The student should be able to:
1. Explain the meaning of sole proprietorship.
2. List his sources of capital.
3. List the advantages and disadvantages of a sole proprietorship.
Content
Definition of Sole proprietorship
A sole proprietorship may be defined as a form of business enterprise owned, financed and managed by one person with the primary aim of maximising profit. The sole proprietorship, also popularly referred to as a one-man business, is the oldest and the most common type of business organisation. It is an unincorporated business unit owned by one person who provides the capital, runs the business and undertakes the risks and profits of the…