what do u mean by easy formation in sole traders
Answers
Explanation:
A sole trader is a self-employed person who owns and runs their own business as an individual. ... Unlike the owners of a limited company, however, a sole trader is personally liable for their business's debts and their personal assets may be at risk if creditors cannot be paid
Explanation:
A Sole proprietorship can be explained as a kind of business or an organization that is owned, controlled and operated by a single individual who is the sole beneficiary of all profits or loss, and responsible for all risks. It is a popular kind of business, especially suitable for small business at least for its initial years of operation. This type of businesses is usually a specialized service such as hair salons, beauty parlours, or small retail shops.
Definition of Sole Proprietorship:
It is that type of business organization which is owned, managed and controlled by a single owner.
The word “sole” means “only” and “proprietor” notes to “owner”.
A sole proprietor is the beneficiary of all profits.
All risks are to be borne by the sole proprietor.
The sole proprietor has unconditional and full control over its business.