- OWNERSHIP: The business enterprise is owned by one person.
- OBJECTIVE: The main objective of the one man business is to make profit.
- SOURCE OF CAPITAL: The Capital Required to set up and run the business is provided by the proprietor.
- LIABILTY: The sole proprietor has unlimited liability.
- LEGAL ENTITY: It is not a legal entity as the owner is not separated from the business.
- MANAGEMENT: The business is controlled and managed by the sole proprietor himself.
- LIFE SPAN: The life span depends on the owner. The enterprise can fold up at any time.
