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A sole proprietorship is a type of business where one person owns and operates the business on their own. It's like being a one-person show, where the owner is responsible for everything the business does.
Let's say someone named Jane wants to start a cleaning business. She decides to operate as a sole proprietorship, meaning she's the only owner and employee. She's responsible for all aspects of the business, including cleaning, advertising, and bookkeeping.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
A sole proprietorship is run by just one,
They do it all until the job is done.
From start to end, they're in control,
But a plan for growth should be their goal.