S1 Business

A sole trader business is owned by...

• 1 person

• 2 people

• A large group of people

• 3 people

Tesco is an example of a sole trader...

• True

• False

A sole trader has...

• Unlimited finance

• Max finance

• Minimum finance

• Limited finance

A hairdresser could be an example of a sole trader...

• True

• False

Where could a sole trader receive their funding from?

• Personal savings

• Bank loan

• Loan from family and friends

• All of the above

Which is an advantage of being a sole trader?

• Can avoid paying additional fees

• They don't need to work

• Can keep all the profits for themselves/their business

• Someone is available to help with decision making

Sole traders have the advantage of being able to run the business however they want to

• True

• False

Which is a disadvantage of being a sole trader?

• A big investment of money could be lost

• It is a huge risk to start a business

• Working alone means the workload and responsibility is big

• All of the above

This is an example of a basic need to keep us hydrated

(a)  

A PS5 is an example of a (a)