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Sole Proprietor

A sole proprietor is someone who runs an unincorporated company, solely, or by themselves. Simply meaning the owner is acting alone in the business and there are no partners. Becoming a sole proprietor is a road most solitary business entrepreneurs tend to take. It is simpler than looking for someone who you can trust all your hard work with. A sole proprietor must pay with their personal funds for the assets and debts of the enterprise, and that being said, sometimes you need an experienced lawyer on your side.

Fast Facts

  • If you conduct business with your LLC as a corporation and, if you are the sole member of an LLC, you are not considered a sole proprietor.
  • Opening a business account with any bank requires that the sole proprietor to do business with a trade name other than their legal name.

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