A proprietary firm is a type of business organization that is owned and operated by a single individual or a group of individuals. Unlike other types of business structures, such as partnerships and corporations, proprietary firms do not have shareholders or partners. Instead, the owner or owners of a proprietary firm have complete control over the business and are personally responsible for all its debts and liabilities.

Proprietary firms are common in many industries, including retail, manufacturing, and services. They can range in size from small businesses with just one or two employees to larger organizations with hundreds or thousands of workers.

One of the key advantages of a proprietary firm is that the owner or owners have complete control over the business and can make decisions quickly without having to consult with partners or shareholders. However, this also means that the owners are solely responsible for the success or failure of the business, and may face personal financial losses if the business is not profitable.