How Do I Start a Sole Proprietorship in RI?

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Starting a Sole Proprietorship in Rhode Island

  1. Choose a business name
  2. Register for a DBA name if desired
  3. Obtain business licenses and permits
  4. Understand tax obligations

What a Sole Proprietor Needs to Start a Business

  • Decide on a business name
  • Register a DBA if needed
  • Obtain necessary licenses and permits
  • Understand tax obligations

Establishing a Sole Proprietorship

A sole proprietorship refers to an unincorporated business with one owner. It’s the simplest business structure to set up. Sole proprietorships don’t have their own legal identity like an LLC. With a sole proprietorship, you have unlimited liability for business debts.

While sole proprietorships have some advantages, there are also disadvantages you should be aware of. Sole proprietorships don’t protect your personal assets. On the other hand, if you form an LLC, your personal assets are protected in the event of a lawsuit.

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