Commerce 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.... View More