I have decided that I will start my business as a sole trader. There are numerous advantages and disadvantages for starting a business a sole trader. The structure of my business will be flat, there will be me and few other employees who will take care of adminstration and beauty treatments.
Here are some of the advantages
- Sole mangement of income, profits and desicions.
- Freedom and indepentance.
- Control of business's fate (how big or small the business may grow)
- close and direct relationship with customers
the disadvantages;
- Higer pressure and stress (when making sure the business will survive and turn into success)
- Lack of motivation and boredom can occur when there are less people working with you.
- Lack of structure (no fix hours and working days and salary)
- Unlimited liabilty (if business goes bust there is a risk of losing personal assets)
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