A sole proprietorship is a one-person business that is not registered with the state. This means that the business owner is personally liable for all debts and obligations of the business. Sole proprietorships are the most common type of business in the United States.
There are many benefits to starting a sole proprietorship. First, it is easy and inexpensive to form. Second, the business owner has complete control over the business. Third, the business owner can keep all of the profits.