The Sole Trader

July 28th, 2017 Posted in Perth Businesses

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If you want to invest in a small business, the simplest type of business you can form a sole trading business. As the sole trader, you only work for your own interest without having been any formal procedure to be incorporated as a limited or unlimited company.

A sole trader can be easily set up and commence immediately. The owner of a sole trader business has full control over the company where the owner can decide the way in which the business can be conducted. The sole trader owner has the authority to restructure and dissolve the company whenever it suits.

However, a sole trader is a type of business that contains greater and personal risk rather than a limited liability company. As a sole trader the owner of the company is responsible for all the aspect of the business. In addition, it is difficult for sole traders to find or attract investors or parts – this holds back the growth of the business. . In terms of size the business is pretty small, but the number of sole trader business is very large in comparison to any other form of business here in Australia or even in other countries around the world.

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