This is true. Sole proprietorships are the simplest and most common form of ownership in small businesses. In this type of business structure, there is only one owner who is responsible for all aspects of the business. The owner has complete control over decision-making, profits, and liabilities. Sole proprietorships are popular among entrepreneurs due to their simplicity, low startup costs, and easy dissolution process. However, the owner of a sole proprietorship is personally liable for the business's debts and legal obligations.
