its startup requires much less time than with the company, and additionally, during the first two years of operation, we pay lower social insurance contributions. There is also a possibility to conduct a simplified accounting, which greatly reduces the costs incurred. A minimum capital is also required to set up a sole proprietorship. The owner is liable with the total amount of his personal assets. The profit of the company is also the profit of the owner, but also all the costs are the expenses of the owner. Registering a business is free, it does not require paying an official fee as in the case of a limited liability company.
Below are a few words about the process of starting a business.