Sole Trader

Sole Trader

Advantages

  • Easy to set up
  • Easy to run
  • Less capital required
  • Can get to keep all the profits
  • Doesn't have to publish accounts/increased privacy
  • Flexibility
  • Control
  • Tax Advantages

Disadvantages

  • Unlimited Liability
  • lack of continuity
  • Illness
  • Long hours
  • Limited specialisation
  • Difficulty of raising capital

Evaluation

Overall, I think that being a Sole Trader can work for people who want to run a small business but it is no suitable for someone who wants to develop and grow their business.

Comments

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Sole Trader

Sole Trader

Advantages

  • Easy to set up
  • Easy to run
  • Less capital required
  • Can get to keep all the profits
  • Doesn't have to publish accounts/increased privacy
  • Flexibility
  • Control
  • Tax Advantages

Disadvantages

  • Unlimited Liability
  • lack of continuity
  • Illness
  • Long hours
  • Limited specialisation
  • Difficulty of raising capital

Evaluation

Overall, I think that being a Sole Trader can work for people who want to run a small business but it is no suitable for someone who wants to develop and grow their business.

Comments

No comments have yet been made