· They are small businesses, so less money is required to set them up.
· The owner is in sole charge so quick decisions can be made without having to get others.
· The owner gets to keep all of the profits; they don't have to be shared with others.
· Financial information can be kept private.
· Quick and easy to start
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
Advantage : There are more persons to share the risk and contribute capital. Disadvantage : You lose total ownership.
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
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.