The following is a list of business types:
Sole proprietorship (self employed) – A sole proprietorship is an unincorporated business owned and managed by one individual. Sole proprietors are fully responsible for all debts and obligations related to their business. A creditor with a claim against a sole proprietor would normally have a right against all business and personal assets, meaning the creditor could seize some of your personal belongings. This is known as unlimited liability. Characteristics of a sole proprietorship: …Read more
