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Forms of a business
Sole trader
Disadvantage
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Cards (5)
Risk as there are no one to
share
the overall
responsibility
of running the businesses with
Time as some traders often need to work
longer
hours to meet
deadlines
Expertise- the sole trader may have
limited
skills in areas such as
finance
Vulnerability- there may not be anyone to
cover
if the worker gets Ill and can’t get to
work
Unlimited
liability- the sole trader is
responsible
for all the
debts
of the business