Sole proprietorship

sole proprietorsole traderproprietorshipsole proprietorssole traderssole proprietorshipssingle proprietariesindependentPrivateproprietorships
A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.wikipedia
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List of legal entity types by country

a.d.d.o.o.company
A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.
These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities.

Limited liability

unlimited liabilitylimitedliability
The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts.
By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited liability).

Companies Registration Office (Ireland)

Companies Registration OfficeCROCompanies Registration Office (CRO)
In Ireland, a sole trader who wishes to use a business name must register that name with the Companies Registration Office (CRO).
It also registers the names of businesses which are non-limited trading entities such as sole traders and partnerships.

Independent contractor

contractorindependent contractorscontractors
The license for a sole proprietary business entitles the owner to hire employees and enlist the services of independent consultants.
An independent contractor can itself be a business with employees; however, in most cases in the United States independent contractors operate as a sole proprietorship or single-member limited liability company. This means the independent contractor, as a business owner, incurs its own expenses to provide the contracted service, must acquire its own equipment to perform the service, and is responsible for business filings such as income tax returns.

Small business

small businessesmom and popsmall business owner
For any small business owner seeking funding, they must consider the debt-to-equity ratio of their enterprise.
Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation.

Legal person

legal personalitylegal entitybody corporate
The business owner is required to register with the appropriate local authorities, who will determine that the name submitted is not duplicated by another business entity.
This was not a problem in the era before the Industrial Revolution, when the typical business venture was either a sole proprietorship or partnership—the owners were simply liable for the debts of the business.

Taxation in Germany

German tax systemsolidarity surchargeGermany
German and Austrian tax laws also differentiate between sole professionals and other sole proprietors.
Sole proprietorships and partnerships are not subject to corporation tax: profits earned by these set-ups are attributed to their individual partners and then taxed in the context of their personal income tax bills.

Partnership

partnerpartnershipspartners
It is a "sole" proprietorship in contrast with partnerships (which have at least two owners).

Trade name

doing business asDBAd/b/a
A sole proprietor may use a trade name or business name other than their or its legal name.

Employment

employeeemployeremployees
The license for a sole proprietary business entitles the owner to hire employees and enlist the services of independent consultants.

Decision-making

decision makingdecisionsdecision
Although an employee or consultant may be requested by the owner to complete a specific project or participate in the company's decision-making process, their contribution to the project or decision is considered a recommendation under the law.

Legal doctrine

doctrinelegal principlelegal principles
Under the legal doctrine Respondeat superior (Latin: "let the master answer"), the legal liability for any business decision arising from such a contribution remains upon the owner and cannot be renounced or apportioned.

Latin

Lat.Latin languagelat
Under the legal doctrine Respondeat superior (Latin: "let the master answer"), the legal liability for any business decision arising from such a contribution remains upon the owner and cannot be renounced or apportioned.

Legal liability

liabilityliablecivil liability
Under the legal doctrine Respondeat superior (Latin: "let the master answer"), the legal liability for any business decision arising from such a contribution remains upon the owner and cannot be renounced or apportioned.

Apportionment

apportionapportionedapportioning
Under the legal doctrine Respondeat superior (Latin: "let the master answer"), the legal liability for any business decision arising from such a contribution remains upon the owner and cannot be renounced or apportioned.

Liability (financial accounting)

liabilitiesliabilitydebt
The owner carries the financial responsibility for all debts and/or losses suffered by the business, to the extent of using personal or other assets to discharge any outstanding liabilities.

Ireland

🇮🇪IrishIRL
In Ireland, a sole trader who wishes to use a business name must register that name with the Companies Registration Office (CRO).

Malaysia

🇲🇾MalaysianMalaya
In Malaysia, there are three different laws governing the registration and administration of sole proprietors:-

Companies Commission of Malaysia

Companies CommissionCompanies Commission MalaysiaCompanies Commission of Malaysia (CCM)
In West Malaysia, the registration of sole proprietors come under the purview of the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia, or abbreviated as SSM). In Sabah and Sarawak (with the exception of Kuching), the registration of businesses are done at the local authorities (e.g. municipal councils or district offices) while in Kuching, sole proprietors are registered with the Kuching Office of the Malaysian Inland Revenue Board.

Kuching

Kuching CityKuching / MalaysiaKuching Proper
In West Malaysia, the registration of sole proprietors come under the purview of the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia, or abbreviated as SSM). In Sabah and Sarawak (with the exception of Kuching), the registration of businesses are done at the local authorities (e.g. municipal councils or district offices) while in Kuching, sole proprietors are registered with the Kuching Office of the Malaysian Inland Revenue Board.

Labuan

Federal Territory of LabuanLabuan IslandWP Labuan
1) West Malaysia and the Federal Territory of Labuan: Registration of Business Act 1956 (Act 197);

Sarawak

Sarawak, MalaysiaSarawakianBritish Borneo
2) Sarawak: Businesses, Professions and Trade Licensing Ordinance [Sarawak Chapter 33]; & Business Names Ordinance for the State of Sarawak [Sarawak Chapter 64] and

Sabah

British BorneoSabah, MalaysiaNorth Borneo
3) Sabah: Trades Licensing Ordinance for the State of Sabah [Sabah Chapter 144].

Economy of New Zealand

New Zealand economyNew Zealand's economyNew Zealand
Sole traders in New Zealand must notify the Inland Revenue Department that they are trading and must register for Goods and Services Tax purposes if their income exceeds $60,000 per year.

Inland Revenue Department (New Zealand)

Inland Revenue DepartmentMinister of RevenueInland Revenue
Sole traders in New Zealand must notify the Inland Revenue Department that they are trading and must register for Goods and Services Tax purposes if their income exceeds $60,000 per year.