Sole Trader

This is where you are self-employed operating your business on your own behalf usually in your own name.

The advantages are as follows:

  • you are your own boss
  • you own everything (subject to any bank security)
  • there are few administrative requirements
  • you take all the profit

The main disadvantage:

  • unlimited liability which could leave your personal assets and credit ratings open to risk

 

Quick contact

Furley Page Solicitors in Kent, London, Canterbury, Chatham & Whitstable
Get in touch on 0845 603 10 57