A Sole Trader is one who trades alone without the use of a Company structure or partners and bears full responsibility for the liabilities arising out of the business. One of the disadvantages of trading as a Sole Trader is that a Sole Trader is directly responsible for all the debts incurred by the business. There is no limited liability protection for a Sole Trader.
The paper is presented under the headings:
- Sole Trader Trades Alone
- Business Name
- Taxation - Sole Trader
- Assets
- Liability
- Suitability For Small Scale Operations
- Advantages - Sole Trader
- Disadvantages - Sole Trader
