Which type of business is the easiest and cheapest to form?

Question

Quizplus · Accepted Answer

Sole proprietorship is the easiest and cheapest type of business to form as it does not require any legal formation or incorporation documents, and the owner has complete control over the business operations. Additionally, sole proprietorships do not have to file separate tax returns, making it simpler and less expensive to manage the business finances. However, it also means that the owner is personally liable for any debts or liabilities incurred by the business.

Which Type of Business Is the Easiest and Cheapest to Form