GROWTH DEVELOPMENT CHILD
DEVELOPMENT AND LEARNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sole trader
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partnership
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Sole trader disadvantages
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Sole trader advantages
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Detailed explanation-1: -Advantages of sole trading include that: you’re the boss. you keep all the profits. start-up costs are low.
Detailed explanation-2: -Sole traders keep all the profit they make for themselves. They also get to run the business as they see fit, making all the key decisions by themselves.
Detailed explanation-3: -Quick Decision Making: The sole proprietor is in touch with the day to day operations of the business. He is the sole decision making authority. Hence, if there is any situation requiring an immediate decision, it is possible for the proprietor take any decision which he thinks is appropriate.
Detailed explanation-4: -In sole proprietorship, the owner takes all decisions and is in full control of the business.