Sole Trader: Owned by one individual person, Controlled by 1 person private individual, Owner has full control, Owner get 100% of the profits, Difficult to take holidays, Partnership: Owned by 2 or more private individuals, Controlled by the 2 or more private individuals, More skills available to ownership, Shares profits with other owners, disagreements can occur when making decisions, Both Sole Traders and Partnerships: Unlimited Liability,

Sole Trader or Partnership

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