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What is Sole Trading: Definition and Features about?

This document defines and describes the key features of a sole trading concern, which is a type of business owned and run by a single individual. It notes that sole traders have easy formation, self-management and control, unlimited liability, and do not have legal status or stability. Advantages include flexibility and business secrecy, while disadvantages are unlimited liability, lack of legal status, and limited management skills. Successful sole traders increase sales through good customer relations and

Author

venkynaidu

Language

EN