Sole proprietorship

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. The owner is in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss etc.

The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships (which have at least two owners).

A sole proprietor may use a trade name or business name other than his, her or its legal name. They will have to legally trademark their business name, the process being different depending upon country of residence.

Other countries

An exact translation of "sole proprietorship" is unusual, because the focus of the concept can change. An example is the Brazilian concept of "sole business" that was split into two main kinds of formal freelancer:

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Latest News for: sole trader

Chancellor set to increase punishment for late tax returns

AOL 23 Mar 2025
Businesses and landlords will be hit with huge fines for completing their tax returns late under plans to tackle tax avoidance ... Sole traders and landlords with incomes above £50,000 will join the scheme from April 2026 ... .

Mutuum Finance (MUTM) beats Pepe Coin (PEPE) and Dogecoin (DOGE) on this key front, and ...

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Mutuum Finance’s presale Phase 3 is filling fast, with investors lining up for immediate returns ... Its worth rests solely upon what happens on social media and the musings of bored traders, making it a volatile bet that drives away serious investors.

Gary Stevenson Exposed: Self-Proclaimed ‘Greatest Trader Alive’ Is Wrong About Bitcoin

99 Bitcoins 21 Mar 2025
Gary Stevenson, the man who dubs himself the “Greatest Trader Alive,” has repeatedly dismissed Bitcoin crypto as a worthless scam destined to plummet to zero, attributing its value solely to marketing hype.

GCC Traders Thrive on Risk, Move with Oil’s Tide

Finance Magnates 18 Mar 2025
Many come from professional backgrounds, including finance, real estate and the energy sector along with a growing number of business owners and sole traders ... Traders Want Higher Leverage Levels.

Q&A: Syrian Economist Zaki Mehchy

The Syria Report 18 Mar 2025
... advocates for the need to engage with small traders, instead of solely focusing on attracting foreign investors.

Stakeholders endorse Ghana Gold Board

Business Ghana 17 Mar 2025
As part of efforts to regulate the industry, Gyamfi revealed that GOLDBOD will be the sole buyer of gold through licensed aggregators and local traders.

Kerre Woodham: The Covid loans are proof high trust models don't work

NewstalkZB 17 Mar 2025
 . Let me take you back to March 2020 ...  . It was never going to work ...   ...   ... Yes, that will keep mounting up and capitalising, and certainly a sole traders position, may just walk away and set up new entity or just ignore it ...   ... .

IRD says time running out for Small Business Cashflow loan repayments

NewstalkZB 16 Mar 2025
Inland Revenue says time is running for some people who haven’t repaid money from Covid-era Small Business Cashflow (SBC) loans ... Many borrowers were sole traders, or small businesses with fewer than six fulltime staff ... .

Romanian longs prices stable, but rises anticipated due to reduced quota

Eurometal 14 Mar 2025
... sole rebar producer and traders have remained stable over the last week.

Former Tax Agent Sentenced On Tax Fraud

Scoop 13 Mar 2025
Georges was a registered tax agent and sole trader ...

Former IRD tax agent gets 12 months home detention for tax fraud

NewstalkZB 13 Mar 2025
While operating as a registered tax agent and sole trader from October 2006 to January 2018, Georges committed sustained tax fraud. This was after his time working for Inland Revenue ... .

Self Assessment and Making Tax Digital: What MTD for Income Tax means for sole traders (Sage Group plc)

Public Technologies 12 Mar 2025
) 12 March, 2025 13 min read Leave a comment Share Copy Link Copied Get the lowdown on how Making Tax Digital will change the way sole traders submit ...

Cyclone Alfred disaster relief payment: here’s what you need to know after Queensland and NSW ...

AOL 11 Mar 2025
To be eligible for the disaster recovery allowance you must be.. Sixteen years or older. A worker or sole trader who has suffered a loss of income as a direct result of the event ... The easiest way to apply is online, through your myGov account ... Related ... .

Federal Government Offers 13-Week Income Support for Cyclone-Hit Workers

The Epoch Times 10 Mar 2025
The federal Labor government has announced a Disaster Recovery Allowance to provide 13 weeks of income support for workers and sole traders ...

Ex-cyclone Alfred causes heavy rainfalls, floods continue in Australia's Queensland, NSW

China.dot.org 10 Mar 2025
Australian Prime Minister Anthony Albanese announced at a press meeting on Monday that eligible workers and sole traders in 31 local government areas in southeast Queensland and NSW who have lost ...
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