Sole means one person. So a sole trading business carried by one person. The person who conducts the business is called 'sole trader or sole proprietor'.
A sole proprietorship also known as a sole trader, or simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner (subject to taxation specific to the business). All assets of the business are owned by the proprietor and all debts of the business are the proprietors'. This means that the owner has no lesser liability than if he was acting as individual instead of a business.
you cannot sell or transfer the sole Prop. buiness
you have to close the Bank A/c as you cannot change the name of properitor in the existing account