FlexiQuiz - Sole Trader

What is a Sole Proprietorship/Sole Trader?

Business owned by a company

Business owned by one person

Business owned by several companies

Business owned by president

What is a disadvantage of Sole Proprietorship/Sole Trader?

Not easy to raise capital money

Fully/personally responsible for any issues

Profits are not shared

Decisions don't need approval

What is an advantage of Sole Proprietorship/Sole Trader?

Decisions don't need an approval

Hard to get out of business

Split profit equally

A boss that tells you what to do

Who can start a sole proprietorship/Sole Trader?

You & your best friend

Anyone

Tom & Jerry

Grandma & Grandpa

Sole Trader