• The owner is in complete controll of the company.
• The proprietor has the right to all the profits, after taxes have been paid.
• Business affairs can be kept private, with exeption of the annual tax declaration.

• Unlimited liability: A sole trader is personally responsible for all the debt of the Business.
• Lack of continuity: The business may get into trouble if the owner dies or gets ill.
• Raising capital: A sole trader cannot invite the public to raise money for his business.

A sole proprietorship is a company owned by one person. The business must be registered with the local company record. The sole trader may work alone or employ other people if needed. Typically small shops, cafés, restaurants or hairdressers (etc..) are sole proprietorships. Advantages: The owner is in complete controll of the company. The proprietor has the right to all the profits, after taxes have been paid. Business affairs can be kept private, with exeption of the annual tax declaration. Disadvantages: Unlimited liability: A sole trader is personally responsible for all the debt of the Business. Lack of continuity: The business may get into trouble if the owner dies or gets ill. Raising capital: A sole trader cannot invite the public to raise money for his business.