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- How can a sole trade business be expanded
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Business analysts may advise sole traders to form a limited company in order to access greater levels of financing, for example for expansion plans. This can limit their personal liability; business lenders may be more inclined to co-operate with a limited company.
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Answer:A sole trade business can be expanded by employing some person and some of the advantages of this system are discussed as follows: (i) The sole trader is able to shift some of his responsibilities to his assistant. The assistant will look after the work assigned to him and will work under the overall control of the owner.
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