Sole Trader 1 - Relatively easy to set up, Sole Trader 2 - The owner makes all the decisions, Sole Trader 3 - The owner keeps all the profit, Sole Trader 4 - Harder to access finance, Sole Trader 5 - Unlimited liability, Sole Trader 6 - Problems if owner falls ill, Sole Trader 7 - Owned and controlled by one individual, Sole Trader 8 - No requirement to register the business, Partnership 1 - Owned and controlled by between 2-20 individuals, Partnership 2 - A ‘deed of partnership’ is created, Partnership 3 - Workload can be shared, Partnership 4 - Can specialise in different areas, Partnership 5 - More money can be invested in the business, Partnership 6 - Disagreements may occur, Partnership 7 - Partners may leave, upsetting the running of the business, Partnership 8 - Unlimited Liability,

Sole Trader and Partnership Match Up

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