Different types of business ownership

Different types of business ownership

Entrepreneurs usually have a vision of how they want to run their business. Achieving this vision means that they need to choose the best type of business ownership. Here are the various business types you can register in South Africa:

Sole Proprietor:
The simplest business entity, sole proprietorships are businesses started and owned by individuals. There is no separation of assets and liabilities and these businesses cannot have partners, but only employees. The sole proprietor is held personally liable for any debts that the business incurs.
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