Question

Grace owns a dog-walking business that she started in high school. Her first goal was to earn money after school and supplement her allowance. Now that she has finished college and maintains a long client list, she plans to run the business full time. She keeps all the profits and has kept things simple by relying on word-of-mouth to obtain new clients. Grace's business is a(n):_____.

Answer 1

The type of Grace's business is a sole proprietorship.

What is sole proprietorship?

A sole proprietorship is known to be the most easiest and most common type of  business to start.

It is known to be a form of unincorporated business that is often owned and run by one person with no distinction between the business and the person, which is the owner.

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