Sole traders

HideShow resource information

Sole traders

A sole trader describes any business that is owned and controlled by one person - although they may employ workers. Individuals who provide a specialist service like plumbers, hairdressers or photographers are often sole traders,

Sole traders do not have a separate legal existence from the business. In the eyes of the law, the business and the owner are the same. As a result, the owner is personally liable for the firm's debts and may have to…


No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Starting a business resources »