Starting a business is a remarkable step for an entrepreneur. Before starting establishing a business, an entrepreneur needs to consider various factors which are significant in running the business. An individual needs to consider the form of the business that he or she has to establish. Arguably, there is no good or bad business structure, but the business person is required to choose the right structure that will work best for him or her. There are various forms of business organizations that an individual can consider starting. One of the forms of business organizations is a sole proprietorship. A sole proprietorship is the simplest form of business any business person can start and operate. It’s simple to start as it does not require huge initial capital, and it’s easy to man. The business is run by the owner with the help of the family members (Needle, & Burns,2010). A Sole proprietorship can operate under a fictitious name or the owner’s name, like Nash beauty salon. Ideally, the fictitious name entails trade, but that does not make sole proprietorship a separate entity from the owner. A sole proprietorship is owned and managed by a single person.
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