A sole proprietorship is an enterprise that is owned and operated by one person only. This person is often called a "self-employed person."
Such an enterprise has no legal existence, juridical personality or patrimony separate from that of its owner.
To summarize, a natural person who operates a sole proprietorship is often said to “work for him or herself.” Moreover, since the person is the sole proprietor of the enterprise, all profits made and, where applicable, all losses incurred are that person's alone.