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A sole trader could be made personally bankrupt due yyto the failure of the business. You will probably have to work very long, and in many yycases unsocial hours. If you become ill or want to go on holiday you will have to pay yysomeone to look after the business. Can you put trust in such hired help? Running yyyour own business can be very stressful.y
yAdvantages and disadvantages of sole tradersy
yAdvantagesy
y yyDisadvantages
y? They are easy to set up and yyrequire little paperwork. yy? One person takes all the decision-yymaking responsibility.
y? All profits accrue to the sole yytrader...
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