Sole Proprietorship is the simplest and cheapest form of starting and running a business in India

Sole Proprietorship firm is owned by a single person termed as proprietor.

This business does not have any separate identity under the law. It can also be operated under the name of its proprietor.

Sole Proprietorship firm is only suitable for small merchants and traders who find it difficult to bear the cost and compliances involved in organized sectors such as Private Limited companies.

Liability of Sole Proprietorship firm is unlimited and it also doesn’t have perpetual existence.