Essay on the Meaning Of Sole Trading Firm

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A sole trading firm is a form of business organisation which is owned and managed by a single person for his exclusive benefit. Here, the single owner who is termed as the sole trader, introduces his own capital, uses his own skill in the business affairs and takes up the entire responsibility for the resul’ ^f business operations.

A sole trader is a person who carries on business exclusively by himself and for himself.

Definition

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“A sole trading concern is a form of business organisation, in which an individual alone invests his capital, uses his own skill and intelligence in the management of its affairs and is entitled to enjoy all the profits as also is solely responsible for all the risks of ownership” (Encyclopedia of Business and Commerce).

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