The most popular form of business ownership in the United States is the sole proprietorship.
1. Sole proprietorship: This form of business ownership is the most common due to its simplicity and ease of setup. In a sole proprietorship, one individual owns and operates the business. The owner has full control over decision-making and keeps all profits but is also personally liable for any debts or legal issues of the business. Many small businesses, like local shops or consulting services, operate as sole proprietorships due to the straightforward nature of this business structure.
While corporations are widely recognized, especially in larger businesses, the sheer number of small businesses and startups in the U.S. operating as sole proprietorships makes it the most popular form of business ownership in the country.
