Advantages: Easy to set up because you do not need to complete lots of legal paperwork, Can make all the decisions, The owner is hands-on to provide a personal service, Can decide which hours to work and when to take holidays, Owners get to keep all their profits, Disadvantages: It can be hard to raise the amount of capital needed to start up a business, Difficult to take time off for holidays or if sick, Unlimited liability, No-one to consult or share ideas with,

Sole Trader - Advantages & Disadvantages

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