The website has the complete lesson note for all the subjects in secondary school but this piece showcases the SS1 Commerce Lesson Note on Sole Proprietorship. You can use the website search button to filter out the subject of interest to you.
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TOPIC: SOLE PROPRIETORSHIP
CONTENT:
SUB-TOPIC 1: MEANING OF SOLE PROPRIETORSHIP and SOURCES OF CAPITAL
Sole proprietorship could be defined as the business organization both owned and controlled by a man. The owner is called the sole proprietor or sole trader. This type of business may be operated by the proprietor (owner) alone or it may employ several people, but the main feature of it is that it is owned by one person and tends to be a small business. It is the oldest, simplest and commonest form of business in Nigeria. Sole proprietors tend to have only a few employees, and less machinery or capital than larger business. Examples are private schools, hair salon, barber’s shop etc.
Features of Sole proprietorship
Sole proprietorship business is characterized by the following:
SOURCES OF CAPITAL.
A sole trader has many ways to secure funds needed in running the business. Some of the sources are enumerated below.
EVALUATION
SUB-TOPIC 2: ADVANTAGES AND DISADVADVANTAGES OF SOLE PROPRIETORSHIP
Advantages of Sole Proprietorship
Disadvantages of Sole Proprietorship
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