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1) A Sole Trader

A sole trader is a business that is owned by a single person. It may however have more
than one employee. This is the most common form of ownership in the UK.

There are many advantages of being a sole trader. The main ones are:


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A partnership is where there are two or more owners of the business. A
partnership usually has between two and twenty members (although there are
some examples such as John Lewis where there are hundreds of partners).

The advantages of being a partnership are:

The risks are spread across more…

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Having limited liability means that each of the investors can only lose the money they
have invested in the company and no more. This helps encourage people to finance the
company / business because they know that they can only lose what they have put in if
the company fails.…

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I want to be unique so this is not the way I want to go.

I have decided that I will initially create my business as a sole trader. This is because it
is easy to set up, requires minimal capital, allows me to pay minimal wages (as I will…


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