Business: Section 1 (Sole Traders) - Advantages and disadvantages table in GCSE Business Studies

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Created by: Georgia Vyse
Created on: 21-03-14 16:48

Business: Section 1 (Sole Traders)

Advantages

Dead easy to set up
You get to be your own boss
You alone decide what happens to profits

Disadvantages

Have to work long hours , very little holidays too.
UNLIMITED LIABILITY , have to sell everything you own to pay debts.

Evaluation

Most small businesses are sole traders. You don't need to do anything except start trading. Examples : Plumbers , hairdressers , newsagents and fishmongers.

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