Types of ownership In Uzbekistan

Assignment

Types of ownership

In Uzbekistan

Types of Ownership of Business

1. 
   Sole Proprietorship
   

The question is who owns a business. A business can and may be owned by many different types of owners among which the earliest and most common is sole proprietorship, also known as single owner business. This sort of ownership is very common in any part of the world. It can be a small business like the grocery shop near your house, a small tea stall on Mustaqillik avenue a big Smart Phone selling shop at Samarqand darvoza mall, a big launch service from Tashkent to termiz or a Courier service like BTS Courier Service. One can open such a business in any city or in a rural (village) area. It can also be also be floating. If you go to Samarkand you will see lots of hotels on boats selling food. If you want to start such type of business in cities you may have to take a Trade License for a small fee from the City Corporation or the Municipality. Very small traders like the tea seller or the flexi load service provider usually do not have to take a Trade License.

A sole tradership business has many advantages. The capital needed is usually small. The owner takes all the profit but also bears all the losses. He usually decides what he will sell or when he will open or close his business. He decides his working hours. When the owner of the sole proprietorship business dies usually his family members take control of the business. They may decide to run the business or close it down. There are examples where the family members did not continue with the business. In some cases they did.

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