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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.

James K. IB Business Studies tutor, A Level Business Studies tutor, G...

1 month ago

Answered by James, a GCSE Business Studies tutor with MyTutor

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Tom H.

Degree: Economics (Bachelors) - Durham University

Subjects offered: Business Studies, Spanish+ 3 more

Business Studies
Spanish
Maths
French
Economics

“Top tutor from Durham University, ready to help you improve your grades, all the way to A*.”

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Thomas C.

Degree: Economics and Politics (Bachelors) - Exeter University

Subjects offered: Business Studies, Maths+ 1 more

Business Studies
Maths
Government and Politics

“A second year Economics and Politics Student at Exeter looking to help, engage and support students at GCSE and A-Level”

£18 /hr

Alexander C.

Degree: Accountancy (Bachelors) - Durham University

Subjects offered: Business Studies, Maths+ 5 more

Business Studies
Maths
French
English Literature
English Language
Dutch
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“Hi! My name is Alex, and I am currently a student at Durham University, studying Accountancy! I came to Durham from The Netherlands, having spent my entire life there, but have British and French parents. Having gone to an internation...”

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James K.

Degree: Law with Accounting and Finance (Bachelors) - Liverpool University

Subjects offered: Business Studies, Maths+ 1 more

Business Studies
Maths
Law

“About Me: I am currently studying Law with Accounting and Finance (LLB Hons) at the University of Liverpool. I have always had a real passion and love for Maths, Economics, Business and reccently discovered Law and hope that my tutori...”

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