The term ownership refers to the right of an individual or a group of individuals to acquire legal title to assets or properties for the purpose of running the business

(a)  

Every business enterprise must undertake such business which is lawful, that is, the business mmust not involve activities which are illegal.

(a)  

Every business undertaking is an independent entity. It has its own assets and liabilities. It has its own way of functioning. The profits earned or losses incurred by one fimm cannot be accounted for by any other firm.

(a)  

Every business undertaking is engaged in the production and/or distribution of goods or services in exchange of money

(a)  

All business enterprise engage in operation on a continuous basis. Any unit having just one single operation or transaction is not a business unit

(a)  

Business undertakings are always exposed to risk and uncertainty. Business is influenced by future conditions which are unpredictable and uncertain.

(a)  

A business enterprise exclusively owned, managed and controlled by a single person with all authority, responsibility and risk".

(a)  

SP ADVANTAGE

With a very small amount of capital you can start the business

(a)  

SP ADVANTAGE

The profits earned belong to the sole proprietor alone and

bears the risk of losses as well. Thus, there is a direct link between effort and reward. If he works hard, then there is a possibility of getting more profit and of course, he will be the sole beneficiary of this profit

(a)  

SP ADVANTAGE

In a sole proprietorship business the sole proprietor alone is responsible for all decisions. Since no one else is involved in decision making it becomes quick and prompt action can be taken on the basis of this

(a)  

SP ADVANTAGE

In sole proprietorship business the proprietor has full control over each and every activity of the business. He is the planner as well as the organizer, who co-ordinates every activity in an efficient manner. Since the proprietor has all authority with him, it is possible to exercise better control over business

(a)  

SP ADVANTAGE

It refers to keeping the future plans, technical competencies, business strategies, etc, secret from outsiders or competitors.

(a)  

SP ADVANTAGE

The sole proprietor is always in a position to maintain good personal contact with the customers and employees. Direct contact enables the sole proprietor to know the individual likes, dislikes and tastes of the customers.

(a)  

SP ADVANTAGE

The sole proprietor is free to change the nature and scope of business operations as and when required as per his decision.

(a)  

SP ADVANTAGE

Sole proprietorship form of business organization leads to creation of employment opportunities for people. Not only is the owner self-employed, sometimes he also creates job opportunities for others

(a)  

SP DISADVANTAGES

In sole proprietorship business, it is the owner who arranges the required capital of the business. It is often difficult for a single individual to raise a huge amount of capital

(a)  

SP DISADVANTAGES

In case the sole proprietor fails to pay the business obligations and debts arising out of business activities, his personal properties may have to be used to meet those liabilities.

(a)  

SP DISADVANTAGES

The existence of sole proprietorship business is linked to the life of the proprietor. Illness, death or insolvency of the owner brings an end to the business. The continuity of business operation is therefore uncertain.

(a)  

SP DISADVANTAGES

In sole proprietorship form of business organisation there is a limit beyond which it becomes difficult to expand its activities. It is not always possible for a single person to supervise and manage the affairs of the business if it grows beyond a certain limit.

(a)  

SP DISADVANTAGES

A sole proprietor may not be an expert in every

aspect of management. He/she may be an expert in administration, planning, etc., but may be poor in marketing.

(a)  

is an association of two or more individuals who agree to share the profits of a lawful business which is managed and carried on either by all or by any, or some of them acting for all.

(a)  

specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business

(a)  

The term co-operation is derived from the (a)   word co-operari,

It is a voluntary association of persons who work together to promote their economic interest

(a)  

FEATURES CO

Cooperative is not limited to a certain group of people but rather to other group of individuals who are willing to be part of the organization

(a)  

FEATURES CO

One member can vote once same with the other members in the organization. A member can express the opinion freely having the same number of shares

(a)  

FEATURES CO

When the cooperative earns, there is an equal distribution of interest on the investment so as limitation is getting higher interest from the other member is practice in the organization.

(a)  

FEATURES CO

Each member will receive a computed surplus to be distributed to the group. It is divided to be enjoyed by the group as the financial statement as a proof and evidence

(a)  

FEATURES CO

The organization will help educate each members through regular meetings and seminar to help update the group in some changes and ask suggestions if needed

(a)  

FEATURES CO

Being registered under the Cooperative Development Authority, the organization will be a member of the umbrella group.

(a)  

TYPES CO

These societies are formed to protect the interest of general consumers by making consumer goods available at a reasonable price.

(a)  

TYPES CO

These societies are formed to protect the interest of small producers by making available items of their need for production like raw materials, tools and equipment's, machinery, etc.

(a)  

TYPES CO

These societies are formed by small producers and manufacturers who find it difficult to sell their products individually. The society collects the products from the individual members and takes the responsibility of selling those products in the market.

(a)  

TYPES CO

These societies are formed to provide financial support to the members. The society accepts deposits from members and grants them loans at reasonable rates of interest in times of need.

(a)  

TYPES CO

These societies are formed by small farmers to work jointly and thereby enjoy the benefits of large-scale farming

(a)  

TYPES CO

These societies are formed to provide residential houses to members. They purchase land, develop it and construct houses or flats and allot the same to members.

(a)  

Initial Business Registration

Single or sole proprietorship

Department agency:

(a)  

Initial Business Registration

Partnership or Corporation

Goverment agency:

(a)  

Initial Business Registration

Cooperative

Goverment agency:

(a)