Question

Explain Sole trader


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Answer 1

$\huge{\underline{\mathtt{\red{❥A}\pink{N}\green{S}\blue{W}\purple{E}\orange{R}}}}$

• A sole trader – also known as a sole proprietorship – is a simple business arrangement, in which one individual runs and owns the entire business. ... As such, while a business registered as a sole trader might only consist of the owner, it might also consist of the owner and additional employees.

Answer 2

$\huge{\tt{\red{\mathfrak{ᴀnsᗯeʀ :-}}}}$

ᴡʜᴀᴛ ɪs ᴀ sᴏʟᴇ ᴛʀᴀᴅᴇʀ ʙᴜsɪɴᴇss?

➨ᴡʜᴇɴ ᴀ ʙᴜsɪɴᴇss ᴜɴɪᴛ ɪs ᴏᴡɴᴇᴅ ʙʏ ᴀ sɪɴɢʟᴇ ᴘᴇʀsᴏɴ, ɪᴛ ɪs ᴄᴀʟʟᴇᴅ “sᴏʟᴇ ᴛʀᴀᴅᴇʀ’s ᴄᴏɴᴄᴇʀɴ“. ɪᴛ ɪs ᴀʟsᴏ ᴋɴᴏᴡɴ ᴀs “ᴏɴᴇ ᴍᴀɴ’s ʙᴜsɪɴᴇss“. ᴛʜᴇ ᴘᴇʀsᴏɴ ᴡʜᴏ ᴅᴏᴇs ᴛʜᴇ ʙᴜsɪɴᴇss ɪs ᴄᴀʟʟᴇᴅ ᴛʜᴇ sᴏʟᴇ ᴛʀᴀᴅᴇʀ ᴏʀ sᴏʟᴇ ᴘʀᴏᴘʀɪᴇᴛᴏʀ.

ғᴇᴀᴛᴜʀᴇs ᴏғ sᴏʟᴇ ᴛʀᴀᴅᴇʀ ʙᴜsɪɴᴇss

∝• ᴛʜᴇ ɪᴍᴘᴏʀᴛᴀɴᴛ ғᴇᴀᴛᴜʀᴇs ᴏғ sᴏʟᴇ ᴘʀᴏᴘʀɪᴇᴛᴏʀsʜɪᴘ ᴀʀᴇ ᴀs ғᴏʟʟᴏᴡs.

• ᴀ sᴏʟᴇ ᴛʀᴀᴅᴇʀ ʙᴜsɪɴᴇss ɪs ᴏᴡɴᴇᴅ ʙʏ ᴏɴʟʏ ᴏɴᴇ ᴘᴇʀsᴏɴ.

• ᴛʜᴇ ʙᴜsɪɴᴇss ɪs ᴄᴏɴᴛʀᴏʟʟᴇᴅ ʙʏ ᴀ sɪɴɢʟᴇ ɪɴᴅɪᴠɪᴅᴜᴀʟ.

• ᴛʜᴇ ʀɪsᴋ ᴀʀɪsɪɴɢ ᴏᴜᴛ ᴏғ ᴀ sᴏʟᴇ ᴛʀᴀᴅᴇ ᴄᴏɴᴄᴇʀɴ ɪs ʙᴏʀɴᴇ ʙʏ ᴀ sɪɴɢʟᴇ ᴘᴇʀsᴏɴ.

• ᴛʜᴇ ʟɪᴀʙɪʟɪᴛʏ ᴏғ ᴛʜᴇ ᴏᴡɴᴇʀ ᴏғ ᴛʜᴇ ʙᴜsɪɴᴇss ɪs ᴜɴʟɪᴍɪᴛᴇᴅ.

• ᴛʜᴇ ʙᴜsɪɴᴇss ғɪʀᴍ ʜᴀs ɴᴏ sᴇᴘᴀʀᴀᴛᴇ ʟᴇɢᴀʟ-ᴇɴᴛɪᴛʏ.

$\huge{\tt{\red{\mathfrak{Ꭲhanᴋ\: Ꭹou..♡♡}}}}$