According to the SBA: A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between the business and you, the owner. You are entitled to all profits and are responsible for all your business’s debts, losses and liabilities.
For more information on this and complete resources from the SBA on starting and managing a business: https://www.sba.gov/content/sole-proprietorship-0
- How to Start a Business
- Write your Business Plan
- Choose Your Business Structure
- Choose & Register Your Business
- Business Licenses & Permits
- Learn About Business Laws
- Business Financials
- Finance Your Business
- Filing and Paying Taxes
- Hire & Retain Employees
Another very good resource for starting a business is the Southwest Initiative’s CORE (Center of Rural Entrepreneurship) website. Here you will find an excellent video series (9 videos) on starting a business. The site also provides templates for Business Plan Tools such as writing your business plan and preparing the cash flow projections.
More Business resource links can be found on our website: Business Resources tab