If you're planning to start a business then the sole trading business is
the right choice for you. It is one of the most common business organizations
these days. You don't have to worry too much to start a sole trading business.
It is an unincorporated business owned by a single person with unlimited
liability. Unlimited liability means that a sole trader is liable to pay off
his debts, failing which the creditors can take over his personal property.
This form of organization is the oldest and simplest one. The formation and
dissolution of a sole proprietorship are very easy. There are not many legal
regulations involved, and people who want to set this business up can do it
very easily. It is very easy to setup, there are not many technical formalities
involved. You can start this business very easily by just registering the name
of the business with the registrar of business names and a few other
formalities.
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| Marco Coffen - All-around Investor | Self-Employed IT Consultant | Realtor |
The owner will be the only person who runs the business and makes its
decisions. There will be only one owner and he will have the authority over all
the aspects of the business, he will be able to make all the decisions of the
business. There will be flexibility in the decision-making process, the owner
will enjoy a high degree of flexibility in decision making and there will be no
profit sharing. The owners will be able to keep all the profits of the business
to themselves. They won't have to share the profits with anyone in the
organization. They can run the business alone or hire employees depending on
the size and type of business. If you want to set up a sole trading business,
you can do it very easily by making the right investment. For example, you can
open a store and run it, or you can even start a real estate business and hire
a few other real estate agents to help you.
Starting a real estate business will be easier for you because you won't
need a lot of capital. You will be able to set up the business easily.
-Marco Coffen
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