sole proprietor

A sole proprietor is an individual who owns and runs a business alone, with no legal separation between the business and the owner. The owner is personally responsible for all debts and liabilities. This simple business structure is common among independent contractors, freelancers, and small business owners like shopkeepers or landscapers.

[Last reviewed in July of 2025 by the Wex Definitions Team]

Keywords

• llcs-corporations-partnerships

Wex

• COMMERCE
• business law
• business organizations
• wex definitions
• business sectors