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What is a sole trader?

April 26, 2017sole trader

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What is a sole trader?

2 Answers

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This is the simplest type of business. There are no shareholders, just the owner’s money and borrowings. A sole trader may also be known as a sole proprietor.

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If you conduct a business alone, without a partner, then you are classified as a sole trader. This definition applies whether or not you have employees working for you. It is an inexpensive business to establish and maintain, with the least reporting to Government.