Sole proprietorship is a business owned and managed by one individual. Examples include small service or retail shops, bakeries, restaurants, roadside produce stands, and tea stalls. Sole proprietorship is the most popular form of business ownership due to the ease of starting and dissolving the business, the control the sole owner maintains, participation in all profits and losses, use of the owner's abilities, tax breaks, and secrecy. In conclusion, sole proprietorship is well-suited for individuals with little capital, some experience, and self-confidence who want to become self-employed.