You’ve jumped into the business world for yourself. You don’t have excess paperwork to start a sole proprietorship. But there are some important things you need to know before starting your journey in entrepreneur’s world. A sole proprietorship is most preferred for of business entity as it is simplest and easiest form of business to register and to maintain. There is no formal set of rules and regulation for sole proprietorship registration. However, in order to run a business there are certain requirements that are needed to fulfill.