Sole Trader
- Created by: mazzamarmar
- Created on: 22-04-16 12:10
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- 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
- The owner is responsible for all of the businesses debts
- It's often harder to raise finance
- If the owner becomes ill, then the business may start to suffer
- Sole Trader
- 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
- Advantages
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