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Task 1 - Coggle Diagram
Task 1
Sole trader
Advantages
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You get to make all the decisions so you can take risks you think would be most effective for the business
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disadvantages
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You may have to make desertions in areas that you are unfamiliar in resulting in possible heavy risks that could lead the business to fail
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raising finance for the business takes longer as the sole trader has multiple other tasks they have to sort out meaning less time can be spent on raising finance
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Partnership
advantages
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with more people working together in the partnership you can get more people who are more proficient than you in certain areas that the business
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