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Can sole traders survive?
The first 200 words of this essay...
Types of ownership: 3
Sole Trader 3
Private Limited Company (PLC) 3
THE RESULTS: 5
I am conducting a survey to decide whether or not a sole trader can survive in today's high streets.
Types of ownership:
This is a person who starts up their own business with their own money. This is good as you are in charge of all aspects of the business, but you are also liable for all the debt. A sole trader will not have the money to rent the shop as it is just starting up and will not have the capital for it. As a sole trader is liable to all of the debt it is more cautious to buy an expensive premises, as it may loose the business and have to sell their house to pay for it.
Private Limited Company (PLC)
This is good as you are not liable for any debt that the company gets but you are not in charge of the business. They are more expensive to set up, but
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""Yvette Agars. Senior History Teacher. Saint John's College. Whyalla S.A.
""Sabreena, England. A Level Student. Biology and Chemistry.