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6 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Advantage of Sole trader |
All the profit is kept by one person |
Profit |
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Advantage of sole trader |
The owner has complete control |
Control |
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Advantage of sole trader |
Can offer more personal services to their customers |
Service |
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Disadvantages of Sole trader |
Unlimited liability: if the business has debts, the owner is personally liable. |
Liability |
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Disadvantages of Sole trader |
Difficult to raise additional funds |
Loans |
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Disadvantages of Sole trader |
If the business is unsuccessful, Sole trader can end up working for nothing |
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