types ot Enterprize for different businesppt.ppt

This ppt shows types different enterprize

1. Types of Enterprise of
Business organizing

3. Definition of Sole Proprietorship
Sole proprietorship is one of simplest form of
 
business organization 
found in India. It is termed as one-
man business and has many
 advantages of Sole
proprietorship. It is one of the oldest forms of business
organization. In these businesses, there is only one person
who is the sole owner of the business. He himself manages
all responsibilities of business.
The owner has unlimited liability for the
 business debts &
losses. Even his personal property can be used for paying
business debts. There is no sharing in profit & loss of
business, the whole of it is kept by the sole owner. There
are other persons who work in these businesses under the
supervision of the owner. They are not partners in business.
These businesses need to follow fewer formalities in
comparison to other businesses.

4. Features of Sole-Proprietorship:
Following are the salient features of the sole-proprietorship, as a form of business
organisation:
There is individual ownership, in sole-proprietorship. One man alone-
called the sole- proprietor is the owner of all assets and resources of
business.
The sole proprietor is solely responsible for the management of his
business enterprise. The sole proprietor may engage the services of
professional managers; yet it is he who is responsible for regulating the
decisions and actions of hired managers.
The sole proprietor is solely responsible for arranging finances for his
business. He has to contribute capital from his own sources. He may also
borrow money from friends, relatives and others-at his personal risk.
Because of limited financial capacity of one individual (in majority of cases,
of course), the size of one-man business is usually limited.
In one man business (i.e. sole proprietorship), there is independent
decision-making by the sole proprietor. He need not consult with others;
while taking decisions for his own business.
The liability of sole proprietor is unlimited, i.e. his personal properties
may be utilized for payment of business debts; in case assets of business are
insufficient to pay business liabilities, in full

5. Sourcehttp://filingbazaar1.mystrikingly.com/blog/advantages-disadvantages-of-sole-
proprietorship: