Identify a source of finance a sole trader would use. - A sole trader would use their own savings., Describe a feature of a sole trader. - A a feature of a sole trader is that it is owned and controlled by one individual person. An example of a sole trader could be a hairdresser., Outline a reason why someone would want to start their own business/become a sole trader.  - One reason someone might want to be a sole trader is to be their own boss and make their own decisions. , Identify two skills a sole trader may have. - Two skills are communication and problem solving., Describe one advantage of being a sole trader. - One advantage of being a sole trader is the individual person who owns the business can keep all of the profit and does not need to share this with anyone else. , Outline an advantage of being a sole trader. - An advantage of being a sole trader is they can pick their hours of work., Describe one disadvantage of being a sole trader. - One disadvantage of being a sole trader is if the owner is not well then their business will have to close during this time stopping production. , Identify a disadvantage of being a sole trader. - A disadvantage of being a sole trader is unlimited liability. , Describe unlimited liability. - Unlimited Liability is when the owners of a business are held responsible for any debt the business may incur. This means the owners could lose their personal belongings like their house or car. , Outline ownership, control and finance of a sole trader. - A sole trader is owned by one person, a sole trader is also controlled by the one person. A sole trader can be financed through using the owners personal savings. ,

Sole Trader - Command Word

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