Sole proprietorship

Sole proprietorship Moscow 2024 B-22 Pilaeva Maria

Forms of business entities in Russia The following forms: Sole proprietorship General partnership Limited partnership Non-public companies Public companies Farm enterprise

Sole proprietorship Sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work alone and may employ other people.

Advantages and disadvantages “+” Registration of a business name for a sole proprietor is generally uncomplicated, unless it involves the selection of a name that is fictitious, or assumed. In many countries, the business owner is required to register with the appropriate local authorities , who will determine that the name submitted is not duplicated by another business entity. “-” The owner carries the financial responsibility for all debts and/or losses suffered by the business, to the extent of using personal or other assets to discharge any outstanding liabilities.

The most successful entrepreneurs in Russia Oleg Tinkov Arkady Volozh Sergey Galitsky Pavel Durov Artemy Lebedev