Different Types Of Campanies
Business Studies
Sole Trader – Advantages
- Own Ideas
- Initiative
- All the profit
- Easy to set up
- Decide who to hire
- Keep accounts private
- Choose your own name
- Personal style of management
- Take own holidays
- No share holders
- Minimum politics
Sole Trader – Disadvantages
- Increased risk
- Responsible for your own actions
- Capital requirement
- Increased pressures
- More isolated
- Reduced support
- More expensive
Being a sole trader is the easiest way to set up your own business, you will need to write up a business plan showing you have thought about your market this means if your product will succeed in your selected location. An example of a sole trader would be an Ice-Cream man, or a florist. These two examples are sole traders because they are self employed and do not need to hire many employee's as they would not get that many customers, they also do not have any share holders which means total control. In a sole trader......
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Different Types Of Campanies
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