What is a Sole Proprietorship?
What is a Sole Proprietorship?
When talking about “business Registration” we are typically talking
about what is called a “sole proprietorship” registration. This is sometimes
called a DBA (“Doing Business As”).
A sole proprietorship is the simplest form of operating a business that
is owned by one individual. The business has no existence apart from the owner.
Only one owner is responsible for making all of the business decisions and,
therefore, earns all the profits, but also assumes all of the risks and
obligations. The owner includes the income and expenses of the business on his
or her personal tax return. You always
register your sole proprietorship with the provincial government department or
agency that handles business registrations in your province.
To find out more about which business structure is best for your click
here.