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Does the Sole Trader Use His / Her Financial Resources Efficiently and How Does He / She Remain Successful?
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DOES THE SOLE TRADER USE HIS / HER FINANCIAL RESOURCES EFFICIENTLY AND HOW DOES HE / SHE REMAIN SUCCESSFUL? Business studies coursework - Mrs Joy Parkinson the sole trader. In 1987 Joy Parkinson, a business studies teacher and avid gardener, was approached by a large retailer and asked whether she would be interested in growing heathers with the intent of selling them on in a wholesale capacity. On that day Joy Parkinson went into business as a sole trader. A sole trader is any business owned and controlled by one person, although they may employ workers. The advantages are: * The firms are usually small and easy to set up. * Generally, only a small amount of capital needs to be invested. * The wage bill is usually low as there are few/ no employees. * The owner has incentive to work hard as he can keep the profits. * Other than the Tax Office...
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