Sole Trader: Owned by one individual person, Controlled by 1 person, Owner has full control, Owner get 100% of the profits, Difficult to take holidays, Partnership: Owned by 2-20 partners, Controlled by the 2 or more partners, More skills available to ownership, Shares profits with other owners, disagreements can occur when making decisions, Both Sole Traders and Partnerships: Unlimited Liability, Aim to maximise profits,
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Sole Trader or Partnership
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