A sole proprietorship or proprietorship concern is a type of business entity which is controlled and managed by one person who is also the sole owner. Legally, their is no distinction between the proprietorship business and the owner of that business and they are considered as one and the same.
A sole proprietorship is the most common form of business because of its simplicity and ease of setting it up one to be formed as compared to other entities. A sole proprietorship is not recognised as a separate business entity and its recognition is same as that of the owner.
This type of business is best suited for startups since not much capital would be involved in setting up a sole proprietorship and also the control and management would be constrained to the owner alone.