Define sole trader what are it merits and demerits
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The might mean that they have to charge higher prices for their products or services in order to cover the costs
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sole trading is a type of business entity.
merits-
your are the boss.
you keep all the profits.
start up costs are low.
you have max. privacy.
establishing and operating your business is simple.
you can easy wind up your business.
demerits-
your capacity to raise capital is limited.
all the responsibility for making day to day business decision is yours.
it can be hard to take holidays.
the life of business is limited.
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