Sole Trader

HideShow resource information
View mindmap
  • Dis-advantages
    • Sole Trader
      • The owner is responsible for all of the businesses debts
        • Personal items could be lost of the business is in debt
      • Key Points
        • Owner puts in all capital to set up the business
        • They have unlimited liability
    • It's often harder to raise finance
    • If the owner becomes ill, then the business may start to suffer
  • There is one owner
    • Can employ others
    • Owner makes all decisions
    • Key Points
      • Owner puts in all capital to set up the business
      • They have unlimited liability
  • The owner keeps all of the profit
    • The owner is responsible for all of the businesses debts
      • Personal items could be lost of the business is in debt
    • The owner is their own boss
      • Advantages
        • They are more simple and easy to set up
        • The business is easy to close/ shutdown if needed because there is only one owner
        • Sole Trader

      Comments

      No comments have yet been made

      Similar Business Studies resources:

      See all Business Studies resources »See all Sole Trader resources »