Definition, Meaning & Synonyms
sole-proprietor
Noun
/soʊl prəˈpraɪətər/
Definition
A sole proprietor is an individual who owns and operates a business alone, without any partners.
Examples
- As a sole proprietor, she has complete control over her bakery.
- The risks and rewards lie solely with the sole proprietor.
- Many freelancers work as sole proprietors to maintain independence.
Meaning
This term is commonly used to describe a business structure where one person is responsible for all aspects of the business, including profits and liabilities.
Synonyms
- Single owner
- Individual business owner
- Independent entrepreneur
