Which is the oldest / simplest form of business organization?
Out of all the business organizations around us probably the sole proprietorship is the oldest form of business organisation.
Also, it is the most common type of business structure found in india. Most of the businesses we see around us are all probably sole proprietors eg. Grocery shop, pharmacist, stationers, doctors etc.
Simply said, a sole proprietorship is a single–person business entity. The business and the business owner are the same, it does not have a separate legal entity from the owner.
A sole proprietor is a natural person (not a legal person/entity) who fully owns and manages this type of entity.
Moreover, s sole proprietorship is not required to be incorporated but only registered through a simple process. Thus, it is the simplest form of business structure and hence the preferred choice for small / medium scale businesses.
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