1.2.1 Sole Traders 0.0 / 5 ? Business1.2.1 Sole TradersA2/A-levelAQA Created by: ZruixxCreated on: 16-04-23 21:58 What is a Sole Trader? A single person who is the exclusive owner of a business. 1 of 5 What is Unlimited Liability? Where the business owner is not a separate legal entity to the business and is therefore personally liable for its debts 2 of 5 What are the Advantages of Sole Traders? - Easy to Set up - Sole Trader gets to be their own boss Sole trader decides what to do with profit - Easy to Change the Legal structure 3 of 5 What are the Disadvantages of Sole Traders? - Unlimited Liability - Hard to Raise finance - All responsibility for making decisions is yours - Can be hard to retain good employees 4 of 5 Blank Blank 5 of 5
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