Question

write the advantages of solo trades​

Answer 1

Explanation:

Easy to form: It is very easy and simple to form and organize a sole trader’s business. There are no legal formalities.

2. Simple to manage: It is a small organization. It can be managed easily by the owner himself.

3. Profit incentive: Sole trader enjoys all the profits for himself; This profit motive is an incentive to work hard.

4. Quick decisions: Since he is the sole organizer, he can take quick decisions. He can act promptly according to the changes in the market.

Answer 2

Answer:

Advantages of Sole Trader Business

Easy to form: It is very easy and simple to form and organize a sole trader's business. ...

Simple to manage: It is a small organization. ...

Profit incentive: Sole trader enjoys all the profits for himself; This profit motive is an incentive to work hard.

Quick dicision Since he is the sole organizer, he can take quick decisions. He can act promptly according to the changes in the market.

Contact with customers: He is the owner and manager of the concern. He will be in a position to study the tastes and needs of customers personally since he establishes good contacts with them.

Business secrets: He can maintain the business secrets for himself. Maintenance of secrecy is an important matter in any type of business organization.