What is a sole proprietorship?

The sole proprietorship

When you have a business for your own account and risk, it is called a sole proprietorship. In that case, there is no distinction between business assets and private assets.

A sole proprietorship does not necessarily mean that you cannot hire employees. The word ‘sole proprietorship’ refers to the legal form, not the number of people employed within the business.

Do you have any questions? Or do you need advice?

You can always call one of our specialists during office hours when you have a question. You can reach us at phone number (040) 244 88 55

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Founding

For a sole proprietorship, notary intervention is not required, but recommended. The actual running of a business often involves more than you expect. Our specialists can help you decide whether the sole proprietorship is the most appropriate legal form. In addition, the notary will advise you whether or not to convert a community of property into a prenuptial agreement.

Financial responsibility

A sole proprietorship has assets and debts. The entrepreneur is liable for all debts with all of his assets. In the worst case scenario, creditors of the sole proprietorship can recover any damages directly from the private assets.

Spouse liability

Are you married in community of property? Then your spouse can also lose his/her share in the joint assets if the sole proprietorship is claimed by creditors. To avoid this, it is important to get advice from a notary and possibly have prenuptial or partnership agreements drawn up.

We are happy to advise you on the establishment of your sole proprietorship

Marks Wachters notaries can advise you on setting up a sole proprietorship. You can think about drafting general terms and conditions, creating a proper order confirmation or general business issues. Please feel free to contact us to make an appointment.

Why choose Marks Wachters notaries?

Personal
We combine high-quality service with personal attention.
For over 75 years
A household name in Greater Eindhoven and Nuenen since 1949.
Clear
We communicate in understandable language and avoid unnecessarily difficult language.