A proprietorship business is also started and operated by one person with open doors to full control of all the profits without the obligation of sharing with others since it is just one person onboard without any assistance from other people. By this structure, the owner is exposes to unlimited liability, which implies that he or she is liable for all the firm’s debts. A proprietorshipcompany runs business under the owner’s name giving him/her total authority over managerial choices; it is suitable for owners who want to run their business themselves. However, this business organization has a short lifetime that depends on the owner’s life or his/her decision to carry on the business, and for this reason, the business is both fulfilling and the owner has full responsibility for it.
