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Different types of business.
Member rating: No Rating | Words: | Submitted: Mon Sep 22 2003
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Sole Trader is an individual who has set up the business; this does not mean there is only one worker. They can employ as many people, it depends if the owner can afford to employ more. They may use their personal savings as capital to start their business, as it is the easy way to start. A Sole Trader has Unlimited Liability; the owner's personal would be at risk if their business failed to pay their current income. They are personally responsible for all debts of the business. Example of a Sole Trader-TSE'S Chinese and Vietnamese Restaurant 27 Turnpike Lane N8 OPE This work place is a Sole trader and it has only one owner, they raise money by selling goods, such as food and drinks. The advantages of this business is that it is easy to set up, the owner keep all the profits, no legal form to be fill out, and the owner...
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