Which business structure is owned and run by one entrepreneur?

The business structure that is owned and run by one entrepreneur is the sole trader. A sole trader operates independently, taking on all the responsibilities and benefits of the business. This structure is particularly simple and straightforward, requiring minimal regulatory requirements and allowing the owner to have complete control over decision-making.

In a sole trader setup, the individual has unlimited liability, meaning they are personally responsible for any debts the business incurs. This aspect highlights the personal risk involved, but it also allows for all profits to go directly to the owner without the need to share them with partners or shareholders.

In contrast, a partnership consists of two or more individuals who share ownership and management responsibilities. A private limited company involves multiple shareholders and is subject to more complex regulations, including formal reporting requirements, while a public limited company can sell shares to the public and typically has many shareholders. Each of these structures differs significantly from being a sole trader, who enjoys autonomy and operates independently.