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What is a sole proprietorship?

If a sole person is responsible for the business entity, we speak of a sole proprietorship.

Registration in the Business Register is not mandatory. The only prerequisite is to register the trade with GISA [Trade Information System Austria]. A trade licence will be granted on the basis of which trade activities may be carried out.

Sole proprietors are liable for any debts of the business entity with all of their assets. This also includes private assets.

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