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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.

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14y ago

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How do you set up a sole trader?

advantages of a sole trader


What is the liability of sole trader?

a sole trader has a limited liability. :)


Is body shop a sole trader?

Yes body shop is a sole trader.


Famous sole trader companies?

Lord Sugar is a famous sole trader in the UK.


What is a sole trader organization?

Sole proprietor


How many people does a sole trader employ?

A sole trader can employ as may people as is necessary


Characteristic of a sole trader?

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


Why is it easier for a sole trader to obtain a bank loan?

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.


What is the purpose of a sole trader?

The purpose of a sole trader is to provide a service for a client and charge for that service. As with definition, a sole trader is usually a person who works under the listing of a business they legally own, control and 'provide' for - they pay their own gains tax (No matter how much), and own, and arethe company as it's registered. This can also be known as self employed.They are, however, responsible for any debts which may happen, and cannot rely on the financial protection of being employed.