Nina has a passion for designing clothes and decides to open her own clothing store.She starts it by taking personal loans from family and friends,and hires a few people to run the store She maintains a tight control over costs as she does not want to incur further debts.Nina's store is an example of a ________.

Question

Quizplus · Accepted Answer

Nina has taken personal loans from family and friends and runs the store with a small team, indicating that she is the sole owner and has not formed a partnership or corporation. She also maintains a tight control over costs, indicating that she is not willing to share ownership or control over her business. Thus, her store is an example of a sole proprietorship.

Nina Has a Passion for Designing Clothes and Decides to Open