Salient Features

1. Individual ownership and one-man effort.

2. Enterprise and owner entity is same.

3. All risks related to business are covered by one answer.

4. All profits after deduction of taxes go to the proprietor.

5. Minimal legal formality to start.

6. Unlimited Liability: In case of loss, the entire debt or loan is recovered from the assets of owner.

7. Ownership and management have no separate entity.