sole proprietorshipa business may be privately owned in three important forms. These are sole proprietorship, the partnership and the corporation. the sole proprietorship is the most common in American business. More than 80 per cent of all business in the United States are sole proprietorships.Sole proprietorships, however, do not do the greatest volume of business. They account for less than 16 per cent of all business receipts. What kind of business is likely to be a sole proprietorship? These small business are very often service industries such as laundromats, beauty shops, repair shops and restaurants.
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