The name used by a sole proprietorship for a business instead of the proprietor’s actual name is called trade name.
A sole proprietorship, also known as a sole proprietor, is not an incorporated business only with one owner who is liable for paying all taxes, debts etc. Since it isn't necessary to register a separate business or trade name, many sole proprietors function under their individual identities.
Due to a lack of governmental oversight, a sole proprietorship is the easiest uncomplicated business type to establish or liquidate. Sole proprietorship is easiest to establish as well as it has several benefits such as single decision-making rights, enjoy all profits himself as well as manage everything by himself.
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