Notes

sole trader is a person who carries out the trade or business single handedly. usually there is no one to assists him though in some cases he might keep an assistent or a helper.

features:
1. he is responsible for the entire business
2. the law does not make any distincion between the owner and his business
3. his liability is unlimited. e.g if the business goes bankrupt. the owner will have to raise money from his own assets and financial resource to pay for the creditor and lenders.

4. the sole trader has the final say as far as decision making is concerned. since he has all the freedom to take all of the decision he is also reponsible for them.
5. he keeps the entire profit earned by him simmilarly he also has to shoulder the entire burden of lost.
6. a sole entirety might come to an end if the owner becomes bankrupt or has an entimely demise

reasons why people might set up their own business :
1. you control your own destiny, you are making the decisions on how best to steer your company into the future. these may lead to creating a culture, a brand, and an organisation.
2. you can find your own word life balance. meaning, flexibility, working for wherever you want, setting your own hours, or even wearing a night gown or sitting by your pet while you work. owning their own business, lets them set their priorities.
3. you choose the people you work with.
4. you take on the risk and reap the rewards. in another way the better the are at managing risks, the more rewards you reap.
5. you can challenge yourself new opportunities to be creative and learn something new.
6. you can follow your passion.
7. you can get things done faster. rather than wait for approval, small business got the chance and flexibility to be proactive to run new things up and be at the forefront of new products, techniques, or promotional strategies.
8. you can connect with your clients.
9. you can give back to the community. business owner can give back to community, they operate in the form of the products and services they offer by donating to charities and especially the ability to create jobs.
10. you feel pride in  building something of your own. there is pride in being succesful through your own leadership, abilities, ideas, and efforts. the public are interested inyou, and your story.