Business Wikipedia
A sole proprietorship, also called a sole trader, is owned by one individual and operates for their benefit. A sole proprietor has limitless legal responsibility for all obligations incurred by the business, whether from working costs or judgments against the business. All belongings of the business belong to a sole proprietor, including, for instance, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, in addition to any real property owned by the only proprietor. Here’s how to determine on a business checking account—and why separate business accounts are important. When you open a business bank account, you’ll need to supply your business name and your small business tax identification number . This business bank account can be used for your small busi...