Sole proprietorship: A sole proprietorship , often known as a sole trader, is owned by one person and operates for their profit. The owner operates the enterprise alone and should hire employees A sole proprietor has unlimited liability for all obligations incurred by the enterprise, whether or not from operating costs or judgements against the enterprise. All property of the enterprise belong to a sole proprietor, including, for example, laptop infrastructure, any inventory , manufacturing equipment, or retail fixtures , in addition to any actual property owned by the sole proprietor.
Essentially then, what was once a very important mechanism in Canada that exemplified the greatness of capitalism (i.e. banks have been rewarded for offering Canadians entry to authentic and much needed credit score to meet their wants and generate economic activity) has now became an essential illustration of the dark aspect of capitalism (i.e. banks are being rewarded for appropriating societal worth for profits).
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