Answer:
see below
Step-by-step explanation:
A sole trader establishes and manages his business alone. He or she makes all decisions regarding the business without having to consult anyone. A sole trader business is known as a sole proprietorship.
Reasons for being a sole trader include
The sole trader keeps all the business profits to themselves. Since the trader does not co-own the business with anyone else, there is no sharing of profits.
Ease of starting the business. Starting this type of business requires a business registration certificate and a trading license, which are easy and less costly to obtain.
The owner is the boss. A sole trader has the liberty to control the business and their lives. The trader reports only to themselves and is the final decision-maker in the business.