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advantages of a soul trader, disadvantages of a soul trader, advantages of…
advantages of a soul trader
Easy to set up business
makes all the decisions
has complete control
keeps the profit
disadvantages of a soul trader
Unlimited liability responsible for business debts
may not be able to raise funds to expand the business
May have to work log hours
difficult to compete with larger rival firms
May not have business skills to run a business
advantages of partnership
Easy to set up deed of partnership
Share decision making
Partners invest in business so more funds
Share the management and workload
Disadvantages of partnership
Share the profit
decision binding on all partners
Difficult to raise finance
busiess ceases to exit if one partner leaes