Understanding Sole Traders

A business owned by multiple partners

A non-profit organization

A business owned by a single individual

A corporation with limited liability

Complex tax procedures

Shared profits with shareholders

Need to publish accounts

Full control over business decisions

To keep financial information private from competitors

To avoid paying taxes

To comply with government regulations

To attract more investors

Shared decision-making

Limited liability

Unlimited liability

Easy access to finance

It protects personal assets from business debts

It puts personal assets at risk if the business fails

It allows for easy business expansion

It requires the business to issue shares

Excessive government support

Inability to issue shares

Abundance of financial resources

Too many skilled employees

They have too much free time

They have unlimited liability

The business relies solely on them

They have too many employees

Public relations

Personnel management

Profit distribution

Product quality

Legal obligations

Limited liability

Long-term goals

Leadership style

Maintaining unlimited liability

Retaining full control over decisions

Accessing more sources of finance

Avoiding any form of expansion