Importance of Sole Proprietorship

Business Page No-216

1. Production or 7. Regularity of dealings

acquisition of goods 8. Uncertainty or risk
2. Economic activities about future
3. Sale or transfer of 9. Profits as reward for
title service rendered
4. Creation of utility 10. Flexibility
5. Dealings in goods and 11. Developing good
services relation
6. Service motive 12. Forecasting
 How to Start a Sole Proprietorship
Business in Bangladesh
Page No-218
Step­1: Giving Proper title of the business

Step­2: Registration of the business name and taking the license

Step­3: Process of information investigation

Step­4: Getting license of business starting
 Top 10 Risk of Sole Proprietorship
Business in Bangladesh Page No-220
1. Personal liability
2. No safety net
3. Scarcity of health insurance
4. Burnout
5. Obtaining capital
6. Losing investment
7. Injured liability
8. Tax mismanagement
9. Strained relationships
10.Lost opportunity
Suitable Areas for Sole Proprietorship
Business in Bangladesh
Page No-221

1. Business of small capital 8. Direct service rendering 
2. Products of flexible demand organization
3. Professional or service business 9. Business of agricultural 
4. Seasonal business products
5. Small business  10. Free attitude 
6. Product of local and limited  11. Business of minimum risks
demand 12. Daily accessories
7. Business of perusable goods 13. Personal supervision 
14. Necessity of making quick 
decisions
Causes of Popularity of Sole Proprietorship
Business in Bangladesh Page No-222

1. Easy formation procedure 9. Complete degree of control
2. Investment of small capital 10.Credit standing
3. Minimum risk 11.Increase individual wealth
4. Flexibility in operations 12.Tax facilities
5. Maintenance of secrecy  13.Minimum government 
6. Independent way of life regulation
7. Advantages of direction  14.Ease of dissolution
and management
8. Direct motivation
How to Dissolve a Sole Proprietorship
Business in Bangladesh Page No-228
Step­1: Collection of retained earnings from customers

Step­2: Informing the clients about the dissolution of business

Step­3: Payment of debt or loans to others

Step­4: Canceling the license
Step­5: Closing the business bank account

Step­6: Giving notice to the landlord office 

Step­7: Selling off the rest of the equipments

Step­8: Closing the business
Thank You