SOLE TRADE ACCOUNTS
June 28, 2023 ⚊ 1 Min read ⚊ Views 66 ⚊ BUSINESS
A sole trader is an individual who operates a business independently, without the involvement of a separate legal entity such as a partnership or corporation. Sole traders are responsible for all aspects of their business, including sole trader accounts, tax compliance, and legal requirements. This business structure offers simplicity and flexibility, as sole traders have complete control over their business operations. However, this also means that sole traders are personally liable for any debts or liabilities incurred by the business, making it crucial to manage finances effectively.
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Tags: Expert Financial Management, Sole trader
