Definitions of Sole Trade- Following are the difinitions of sole trade.
Accordint to S.R. Davar. “The sole-trader is a person who carries on business of his own, that is, without the assistance of a partner. He brings in his own capital and uses all his labour. He also gets himself assisted by others to whom he pays a salary by way of remuneration.”
According to Charles S. Tippets, “The proprietorship is that form of business organisation which is owned, managed and controlled by a single individual who received all profits and risks all his property (except a small amount sometimes exempted by law) in the success or failure of an enterprise.”
According to James Stephenson, “A Sole Trader is a person who carried on business exclusively by and for himself. He is not only the owner of the capital of the undertaking, but is usually the organiser and manager and takes all the profits or responsibility for losses.”
According to L. H. Haney, “The individual proprietorship form of business organisation is an organisation at the head of which stands an individual as the one who is responsible, who direct its operation and who alone runs the risk of failure.”
According to Kimbal and Kimbal, “The individual proprietor is the supreme judge of all matters pertaining his business, subject only to the general laws of land and to such special regulation as may affect his particular business.”
According to Shilt and Wilson, “An enterprise that is owned and managed by one person is known as individual proprietorship as individual enterprise, a sole proprietorship.”
What factors are kept in mind while selecting the place of business?
According to W. R. Spriegel, “The origin of business organisation is to be found in the origin of the single enterpreneur form and the origin of the single entrepreneur form is to be traced to the activities of the family.”
According to Charls W. Garstenberg, “The individual proprietorship is a business enterprise owned by an individual who is usually the manager and the pivot of the business as well as its owner.”
According to Dr. John A. Shubin, “Under the sole proprietorship form of ownership a single individual organises, has title to operate the business in his own name.”
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