sole trader - Related Articles
Frank Wood’s Business Accounting, Volumes 1 and 2
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Sole Trader
Definition: Where one person owns a private business. The sole trader may employ other people, but bears the financial risks of the business alone.
Finding out more...
sole trader - (U.K.) This is the easiest and quickest form of corporation for a small, privately-owned business.
Sole trader - A business organisation which has a single owner.
Solow residual - Growth in GDP that cannot be accounted for by increased use of capital and labour.
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Sole Trader
A business person who owns and runs his/her own business. This person benefits from profits and suffers the losses of the business.
The best example here concerns that of the sole trader or one man business: in this situation you may have the sole trader taking money by way of 'drawings': money for his own personal use.
There are many different types of business, from small sole traders to huge companies and corporations. A Franchise is a specific type of business that is more like a branch of a bigger company or one of many identical twin businesses.
If you are a business owner (a sole trader, partner, or limited company) and your income is not as predictable as it is for a salaried employee, the borrower can take out a Self employed mortgage.
Traditionally capitalist economies have had corporations working along the lines of the above example existing in parallel with other types of organisation such as governments, sole traders, partnerships and sometimes cooperatives, credit unions, ...
How do i go from being in a joint business to sole trader useing the same name and salon
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Self Employed
An individual who conducts business as a sole trader, they do not receive an income from a companies PAYE scheme.
When a business cannot pay its outstanding debts, or when the value of its assets is less than the value of its debts. Insolvency can lead to the bankruptcy of individuals such as sole traders, or the winding up of a business if it is not addressed.
 See also: Organisation, Banks, Saving, Cheque, Population
  
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