True: Owned by only one person, Controlled by the sole owner, Easier to set up than other businesses, Must be registered with HMRC, Difficult to take holidays, Can be stressful making all the decisions, Less available skills from ownership meaning less customers needs will be met, Most likely to be financed with personal savings, Keep 100% of the profit, High chance of failure, Unlimited Liability, False: Easy to raise finance, Simple to take holidays, Have to split the profit, Definite success, Decisions can take a long time as you have no one to discuss them with, You can't have employees, Limited Liability, Your personal possessions are totally safe, Coca Cola is a sole trader, Marks & Spenser's is a sole trader, Lenders are happier to give money to sole traders,
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Sole Trader True or False!
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