Yes and no. The idea of the sole trader is that of a single entity, owning and running, carrying all legal and fiscal liabilities for the actions of said business. This would mean that any employees (for instance, a marketing manager) may be considered legal employees of said entity. Therefore, yes, a sole trader may have a marketing manager.
However, the use of a sole proprietorship is to limit the costs and hassles of a corporation. This indicates a person who wishes to not be hindered by others to such a point that he or she would be willing to mantle themselves with the burdon of possible personal bankruptcy if neccessary. Once an entity becomes large enough to neccessitate an employee it would be adviseable to legally become a corporation. If the sole proprietor wishes not to do so, it would be more realistic that said person would pay an outside company for services rendered.
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
Sole trader it means Sole trade agence?
advantages of a sole trader
a sole trader has a limited liability. :)
Yes body shop is a sole trader.
Lord Sugar is a famous sole trader in the UK.
Sole proprietor
A sole trader can employ as may people as is necessary
the characterististics of a sole trader are: -unlimited liablitity -only one person controls the business which is called the sole trader - financial infomration is only visible for the owner of the business - the sole trader can keep all profit made by the business - it is a unicorporated business
Sole trader owns the business solely. It order to make the business survive he needs employees for his business. That means sole trader provides employment to society.
it is not easy for a sole trader to get a loan so easily as the business is new and the bank ownt know if the sole trader will be able to repay the loan.