Advantage and disadvantages of sole trader
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Sole trader advantages↔️
Be your own boss. The main benefit of being a sole traderc is that you are your own boss and you can dictate the direction of the business. ...
Keep all the profits. ...
Easy to set up. ...
Low start-up costs. ...
Disadvantages of sole trading include that:↔️
you have unlimited liability for debts as there's no legal distinction between private and business assets.
your capacity to raise capital is limited.
all the responsibility for making day-to-day business decisions is yours.
retaining high-calibre employees can be difficult.
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