Home › News and Info › Sole Trader
Sole Trader
Advantages:
- Personal ownership and autonomy
- Keeps all of profits
- Privacy ( finances are kept private)
- Less Regulation (compared to other options)
- Often more tax efficient when starting out.
Disadvantages:
- Unlimited Liability ( You have unlimited liability, any debts or other liabilities of the business are also yours)
- Less tax efficient as the business grows