What are the advantages of doing business as a sole trader?

In answering this question, a few things must be taken into consideration. FIrstly, the question clearly asks for the advantages of being a sole trader. This means that any time wasted in explaining a disadvantage of this will gain no marks. The marks allocated to the question give an idea of how many advantages you may need to put across. If this question was for 8 marks, you would probably need to explain in detail about 4 advantages. An evaluation point may help at the end of your response.

SD

Related Business Studies GCSE answers

All answers ▸

Explain why _____ chose to start his new business as a sole trader. (6 marks)


What is the difference between a public limited company and a private limited company?


You receive the following figures: Sales 85000, Cost of Sales 15000, Rent 5000, Advertising Expenses 7000. Calculate the Net Profit.


What is breaking even and how is it calculated?