Sole Traders

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What is a sole trader?
A sole trader is the name given to someone who runs and owns their own business.
1 of 5
Name an example of a job that might be owned by a sole trader
Hairdresser/barber or a dentist could both be owned by a sole trader.
2 of 5
Name an advantage of being a sole trader
You get to keep all the profits. You don't have to consult any one on business decisions.
3 of 5
Name a disadvantage of being a sole trader.
Unlimited liability. Sole traders can find it hard top raise the funds by themselves.
4 of 5
Does a sole trader have limited or unlimited liability
Unlimited liability
5 of 5

Other cards in this set

Card 2

Front

Name an example of a job that might be owned by a sole trader

Back

Hairdresser/barber or a dentist could both be owned by a sole trader.

Card 3

Front

Name an advantage of being a sole trader

Back

Preview of the front of card 3

Card 4

Front

Name a disadvantage of being a sole trader.

Back

Preview of the front of card 4

Card 5

Front

Does a sole trader have limited or unlimited liability

Back

Preview of the front of card 5

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