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.
