Advantages over a sole trader

answer:

What are the advantages of sole trader?

Advantages of sole trading include that:

start-up costs are low. you have maximum privacy. establishing and operating your business is simple. it's easy to change your legal structure later if circumstances change

Here are all the advantages that come from setting up a business as a sole trader.

Be your own boss. ...

Keep all the profits. ...

Easy to set up. ...

Low start-up costs. ...

Maximum privacy. ...

Easy to change the business structure. ...

Unlimited liability. ...

Tax may not be efficient.

Advantages of a Sole Proprietorship

A sole proprietor has complete control and decision-making power over the business.

Sale or transfer can take place at the discretion of the sole proprietor.

No corporate tax payments.

Minimal legal costs to forming a sole proprietorship.

Few formal business requirements.

Explanation: