This article will provide an in-depth look at the key advantages and benefits business owners can gain from operating as a sole trader. It covers factors including flexibility, simplicity of set-up, ...

While not the only option – some may opt to start their own business as a corporation or limited liability company (LLC) – choosing a sole proprietorship offers a number of benefits worth ...

However, the sole trader structure can offer some financial benefits. Any losses you incur as a sole trader can be offset against your other income for tax purposes, something that can’t be done in a ...

However, as an individual or sole proprietor, traders cannot take advantage of some of the tax advantages and asset protection strategies that are available to companies. Working as an independent ...

For a quick overview of each, here’s what to keep in mind: Sole trader means you are fully responsible for the business (with an associated risk of personal bankruptcy if the business fails, but also ...

One of the most important decisions you'll make when starting a business is operating as a sole trader or forming a partnership with others. Each structure has advantages and disadvantages; your best ...

National insurance (NI) – If you are a sole trader, you are self-employed. This means you’ll pay class 2 and class 4 national insurance contributions, which count towards your state pension and other ...

Business formation is one of the biggest decisions you'll make when starting out. Here are seven key advantages of being a sole trader If you’re starting a business, you might be thinking about ...