- Created by: rwoods9krx
- Created on: 31-08-19 13:18
What is a sole trader?
A sole trader is a person who owns a business on their own.
Due to sole traders being on their own, they are personally responsible for any debts the business occurs.
If the business does not generate enough to cover business invoices, the sole trader's personal assets may have to be used to pay them.
Sole traders are the simplest form of business organisations