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Business Ownership (T1 A2 Task B) Sole Trader A sole trader is a business that is owned and managed by one person. Sole traders are common in simple businesses and they do not need many people workers. A sole trader can employ workers but the owner of the business makes all of the decisions. Sole traders can include hairdressers, corner shop owners and plumbers and it is the most common type of business in the U.K. An advantage of being a sole trader is that the business is simple and cheap to start up. Also as the sole trader takes all the decisions, they can have full control over their business in all aspects. Another advantage is that the sole trader keeps all the profits made. Lastly sole traders do not need a large amount of capital (money invested into the business) to start up the business. A major disadvantage of being a sole...

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