Ownership

Sole Proprietorship has only one owner and may employ others to help in carrying out the
normal operations of the business. It is an unincorporated business owned by one individual.

Advantages

1. Easiest to form.
2. Less complex business transaction.
3. Minimal regulatory requirements.
4. Faster implementation of decisions.
5. Proprietor enjoys all profits earned by the business.
6. It is subject to few government regulations.
7. They are subject to lower income taxes.
8. Sale or transfer can take place at the discretion of the sole proprietor.
9. Start-up costs are low.
10. You have maximum privacy.
11. Its easy to change your legal structure later if circumstances change.
12. You can easily wind up your business.

Disadvantages

1. Financing problem/limited ability to raise capital.

2. In case of risks and losses, the proprietor will solely bear them all.
3. Unlimited personal liability.
4. A proprietors life is limited to the time the individual who created its own the business.

Personnel Hiring Procedure

A. Step by Step Hiring Process

Step 1: An applicant must pass their resume.

Step 2: Interview. Set up a general structure for the interview. Create a basic schedule
for the interview so that, as the meeting progresses, you reserve enough time to
cover all the key areas you want to address. Adhering to a schedule will help you
begin and end the session on time, allowing you to be more efficient and show that
you respect the candidate's time.

Step 3: Reference checks and background checks. The purpose of reference checks
and background checks is to verify facts stated by a candidate during the interview, to
clarify any doubts or concerns you have about a candidates background or
qualifications and to validate your assessment.

Step 4: Second Interview. Discuss the Job Descriptions.

Step 5: Pass all the requirements needed. Like NBI Clearance, Health Certificate,
Police Clearance, etc.

Step 6: Training. It is the process that you engage in to discover the training and
development needs of people so that they can carry out their job effectively and
efficiently, and also to continue to grow and develop their careers.

Step 7: Hired. It is when an applicant can start their work.