Sole Trader

1. All profits kept by owner
2. Owner has complete control over all decisions
3. Owner can choose hours of work/hols
4. More personal service offered to customers
5. Very easy to set up

1. Owner has unlimited liability
2. Available finance is restricted
3. Owner has no-one to share decisions/problems with
4. Owner has no-one to share workload with
5. Work may stop if owner is ill/on hols

Attachments:

• Sources of finance

1. Owners savings
2. Business's retained profits
3. Bank loan
4. Bank overdraft
5. Government grants
6. Trade credit
7. Debt factoring

1. To survive
2. To maximise profits
3. To improve owner's personal status
4. To have a good image in the community