Proprietorship Registration – Sole proprietorship is an unincorporated business, owned, managed and governed by one person. This business is one of the most popular business types to begin, specifically among merchants and small traders, consultants, as it can be incorporated in just 15 days and lacks government regulation. It is the easiest and cheapest forms of business to start with. Many businesses start as sole proprietorships and transfer into a Limited Liability Entity.

A sole proprietor is the same as self-employed, they are their own boss. They have complete control and get all the profits. Their business and personal finances are the same and one. But its limitation is that unlimited liabilities and losses are also borne by the owner.