HomeDefinitionsCompareDebt Sole proprietorshipThe financial definition for Sole proprietorship:A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations. Similar MatchesProprietorshipProprietorshipAn unincorporated business that is owned and operated by only one person who has complete liability for all assets, and complete rights to all profits. Click to compare definitions of Sole proprietorship Click to view definitions beginning so |