Question

State two advantages of Sole Trade.

Answer 1

Explanation:

1. Sole ownership
2. Profit is not divided

Answer 2

Answer:

Advantages of sole trading include that:

you're the boss.

you keep all the profits.

start-up costs are low.

you have maximum privacy.

establishing and operating your business is simple.

it's easy to change your legal structure later if circumstances change.

you can easily wind up your business.