<

What Are Examples of Sole Traders?

Butchers, small shopkeepers, photographers, beauticians, hairstylists, plumbers, grocers, and builders are examples of sole proprietors. A sole proprietorship is a form of business owned and operated by a single individual, who may or may not have workers.

The business can operate under the owner’s name or any other name chosen by the owner. A sole proprietorship is typically simple to create because there are no legal restrictions barring its formation. Since there are no employees, the salary bill and the initial investment are often cheap. Generally, sole proprietorships run the risk of shutting down if the owner becomes ill or experiences a condition that interferes with his work.

Joel Gomez
Joel Gomezhttps://www.gadgetclock.com
Joel Gomez is an Avid Coder and technology enthusiast. To keep up with his passion he started Gadgetclock 3 years ago in 2018. Now It's his hobby at the night :) If you have any questions/queries and just wanna chit chat about technology, shoot a mail - Joel at gadgetclock com.

Recent Articles

Related Stories

Stay on op - Ge the daily news in your inbox