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WHAT ARE TWO BENEFITS AND DRAWBACKS OF BEING A SOLE TRADER?
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39 votes
39 votes
WHAT ARE TWO BENEFITS AND DRAWBACKS OF BEING A SOLE TRADER?

User Gzaxx
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2 Answers

25 votes
25 votes
establishing and operating your business is simple.


it's easy to change your legal structure later if circumstances change you can easily wind up your business.
User Loodakrawa
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3.2k points
11 votes
11 votes

Step-by-step explanation:

benefits of being a sole trader

  1. The main benefit of being a sole trader is that you are your own boss and you can dictate the direction of the business.
  2. you keep all the profits and

you have maximum privacy.

drawbacks

  1. Financing and business credit is harder to procure
  2. Potential credibility issue
User John Vasiliou
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