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· 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
What else can I help you with?
What is a function of the sole trader?
Sole trader it means Sole trade agence?
What is the function of sole trader?
Sole trader it means Sole trade agence?
What is a function of a sole trader?
Sole trader it means Sole trade agence?
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
What are the advantages and disadvantages of a sole trader taking on a partner?
Advantage : There are more persons to share the risk and contribute capital. Disadvantage : You lose total ownership.
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.
