A sole proprietor is the owner and general manager of a small business. On a typical day, the sole proprietor will oversee the daily operations of the business and in many cases will be involved in the company's usual activities. For example, the sole proprietor of a plumbing company will often do plumbing work in addition to managing the business.
Skill Sets: A sole proprietor must know how to manage all aspects of a small business such as accounting, payroll, advertising, marketing, staff management, regulatory compliance, etc. Business proprietors must also have skills related to the specific type of business they are running.
Education: The educational requirements will vary depending on what industry the business operates in. For example, the owner of an electrical company will need to be a licensed electrician. For some types of business, no formal training is required, but acquiring basic business management skills through self-learning is recommended.
Career Path: To become a sole proprietor, the minimum required would be a business idea, plans and the required capital to get the company off the ground. If necessary, acquire any professional licenses or certifications that may be required in your industry. A certificate or vocational course in small business management or entrepreneurship is also an asset.
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