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The characteristics of the sole proprietorship form of business organisations are:

Sole proprietorship is a form of business organisation where one individual introduces capital, uses own skill and intelligence, takes all profits and assumes all the risks of the business.

Every business is started to earn profits as it is essential for the survival and growth of business enterprises. Profit earning should be regarded as the main objective of business unit.

An objective denotes a goal for the achievement of which efforts are directed. Every business has its sets of objectives.

Since commerce embraces all those activities of taking goods and services from the production centre to the consumption, a great deal of obstacles are crossed.

The word commerce has been defined differently by different experts of business organisation. It involves the exchange of goods and services.

Proper selection of site for the location of the factory is an important factor which helps in the success of the business enterprise.

The businessman to be successful in his business should have certain basic qualities. Businessmen also include office managers in sole trading firm and professional managers in case of company.

The process of starting or launching business involves two aspects like commercial aspect and the legal aspect. The former aspect is decided by the businessman himself.

The functions of a business may be primarily divided into two types called production and marketing. These two functions are mutually dependent.

Literally the word business means the state of being busy. When a person is busy in doing some work, he is said to make some business.

The word commerce denotes all those processes which helps to break barriers between producers and consumers.

A system denotes a group of interrelated components or sub-systems which functions in a co-ordinate way to attain some specific objectives.

Most of the business houses failed and closed down their operation because of a number of external and inter factors.

Business is regarded as a part of economic institution and an important constituent of the society. Business helps is social development by raising the standard of living of the people in the society.

The followings are some of the organic objectives of the business: