The sole proprietorship is the simplest form of business under which one can operate. It is not a legal entity but rather refers to an individual who owns the business and is personally responsible for its debts. A sole proprietorship can operate using the owner’s name or a fictitious name, which is essentially a trade name without creating a legal entity distinct from the sole proprietor. This business structure is widely used in India, especially by small businesses in the unorganized sectors. Proprietorships are acknowledged through other registrations, such as GST registration.