05/29/2025
Sole Proprietor has a name that describes itself.
sole (adjective): being the only one; having no sharer; functioning independently and without assistance or interference.
proprietor (noun): a person having a legal right or exclusive title to something.
(Definitions from www.merriam-webster.com)
Why? Because it’s very inexpensive to start, and it’s the least complicated entity out of all the business structures to choose from.
The money/resources needed in order to operate? You provide.
Particular business strategies needed to be taken? You decide.
If you’re looking to grow your estate by starting a business as quickly as possible, a sole proprietorship might be a great start.
As the owner (sole proprietor), the law sees you and the business as one.
Who said, “I’m not a businessman. I’m a business, man"? (Help me out by leaving the answer in the comment section if you know. LOL.)
If you are seeking to become a sole proprietor (or already are one), this quote is/would adequately describe you.
When I was much younger, I used to sell cheesecake during the holidays to my friends and family. The moment I sold/attempted to sell a Caramel Pecan cheesecake, I became a sole proprietor, even though I had not filed any legal paperwork.
Have you or your children ever set up a lemonade stand or offered to cut your neighbors’ grass during the summer for some extra cash? Whether you knew it or not, you/your child were self-employed as sole proprietors.
Even though sole proprietors do not have to file Articles for Formation with the state, I'd always advise them that, in addition to obtaining adequate insurance coverage, they may need to obtain various licensures and permits at the state or local level, depending on the type of business they’re seeking to operate.
To discuss whether a sole proprietorship or a different business structure is the right fit for you, click the link in the bio to schedule a free consultation. I’d love to hear from you.
Here at the ALW Law Center, your legal matter is at the center of my concern.
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