Sole Trader

Overview

A sole trader is a person who sets up and runs a business with no legal structure separate from themselves, taking on all the risks and keeping all the profits.

Common Use Cases

• Starting a business without administrative complexity.
• Benefiting from simple management.
• Making decisions quickly.
• Minimising business set-up costs.

Examples in Small Businesses

• Opening a shop or craft workshop.
• Offering consulting services.
• Building an online business.