‘Sole proprietorship is a training school of business’ Explain.

1.	‘Sole proprietorship is a training school of business’ Explain.
Answer» Sole proprietorship is the most basic yet fundamentally very important form of business. A sole proprietor does all the activities himself or is in direct contact with all those people who conduct business activities on his behalf. The proprietor raises his own capital, trades with other businessman, purchases products or raw material, processes them, performs sales and marketing and also manages the books of accounts. Moreover, the sole proprietor remains in direct contact with vendors, customers, employees, market, etc. All these things are extremely important for a person to understand and do a business. Sole proprietorship teaches the proprietor all these aspects thoroughly and hence it is considered as a training school for business.

Answer»

Sole proprietorship is the most basic yet fundamentally very important form of business.

A sole proprietor does all the activities himself or is in direct contact with all those people who conduct business activities on his behalf.
The proprietor raises his own capital, trades with other businessman, purchases products or raw material, processes them, performs sales and marketing and also manages the books of accounts.
Moreover, the sole proprietor remains in direct contact with vendors, customers, employees, market, etc.
All these things are extremely important for a person to understand and do a business. Sole proprietorship teaches the proprietor all these aspects thoroughly and hence it is considered as a training school for business.

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