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A sole proprietorship is also known as the sole trader or simply proprietorship, a type of enterprise that is owned, managed and run by a single person and in which there is no legal distinction between the owner and the business entity. A proprietorship is very easy to form and it requires very minimal compliance during the company formation. So most of the entrepreneurs prefer to setup a sole proprietorship rather than other company like Limited Liability Partnership, Private Limited Company, One Person Company and Partnership. Advantages of Sole Proprietorship: 1. Easy To Start 2. Full Ownership and Control 3. Less Capital Involvement 4. Profits are not to be distributed 5. Ease of Formation 6. Complete control over all the aspects of business 7. Strong Interpersonal relationships with clients, customers and employees 8. Low Income Tax