Guest blog post by Ruby Andrews of NI card.

Who can be considered a sole trader?

A sole trader is a person who puts his or her effort in a business that belongs to him and benefits by enjoying all the process. Sole traders get involved with financial risks. They are accountable to all debts if the business fails. 

The advantages of being a sole trader.

Low managerial costs (since one person is the sole owner) and easy start up (since less capital is required) are a couple of the advantages of becoming a sole trader. Also, since total control is in one person's hands, decision making can be quick and the sole trader (maybe you!) enjoys all the profit. 

This is a Guest Post by Tom Ewer of Leavingworkbehind.com.

Hello, I’m Tom, and I will be quitting my job and becoming self-employed. I will enjoy the freedom that such a life offers. I will do as I please, and work as little or as much as I want (within reason). Or at least, that is the plan.

But how can I be sure that this plan will come to fruition, and how do I combat the fear that comes with taking that final leap of quitting your day job and relying solely on your burgeoning online business?

There is a very simple answer to that question: I can’t. I cannot be sure that everything will go to plan. Actually, I’ll rephrase that – I can be sure that everything will not go to plan. Am I scared of what will happen when I quit my job? Only as much as it should be.

Acknowledging the inevitability of your best laid plans wandering off the straight and narrow, and most importantly, accounting for that inevitability, does not have to be a terrifying process.

So how do you fight the fear?