Question

What are the two main reasons for the popularity of sole trade to date?

Answer 1

Answer:

Sole proprietorship is the oldest business form.

Explanation:

Because of freedom from the restrictions of paid employment and scope for experimentation and expression of one's creativity and innovativeness

For example the personal report with customers builds trust and loyalty.

Sole proprietorship is a form of business that is owned management control by an individual.

That is an individual going and running the business is known as sole trader.

The advantages of sole proprietorship are

- easy to form

- maintenance of business secrecy

- no sharing of profit and loss

- one man's capital

- less legal formalities

- direct motivation

- close personal relations

Hope it helps u ✌