Sole Traders & Partnerships
- When an entrepreneur starts a business, they will often start operating as a sole trader
- If a group of entrepreneurs set up a business they may choose to operate as a partnership
- Over time, they may change the form of business to gain more funding or provide more security for the owners by becoming a private limited company with limited liability
The different types of business structures available to small business owners
- Two of the most common forms of business at start up are sole traders and partnerships
- Each one of these forms has various advantages and disadvantages associated with the structure
An Explanation of Sole Traders and Partnerships
Sole Trader |
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Advantages |
Disadvantages |
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Partnership |
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Advantages |
Disadvantages |
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